'I'm Watching This Closely' - Keith Wyness reacts to BBC's Man United stadium update
Everton’s former chief Keith Wyness has claimed the debt Man United will need to take on to rebuild Old Trafford will be “manageable”. Speaking on... The post 'I'm Watching This Closely' - Keith Wyness reacts to BBC's Man United stadium update appeared first on Football Insider.
Everton’s former chief Keith Wyness has claimed the debt Man United will need to take on to rebuild Old Trafford will be “manageable”.
Speaking on the new edition of Football Insider’s Inside Track podcast, the 66-year-old – who served as CEO at Goodison Park between 2004 and 2009 and now runs a football consultancy advising elite clubs – claimed the club could be “lucky” and secure a favourable rate for borrowing as interest rates decline in the United Kingdom.
As per the BBC (29 July), Man United’s owners hope to decide whether to spend more than £2billion on a new 100,000-seat stadium by the end of 2024.
Renovating the existing Old Trafford stadium, which would cost around £1.2billion and take longer to complete, is also on the table for club chiefs.
United’s debt stood at £773.3million when they released the club’s latest financial figures in March.
Man United will have no debt fears as Old Trafford project draws closer, says Wyness
However, Wyness claimed a stadium project is much less risky than transfer outlay – meaning there will be no problems securing the required money to rebuild Old Trafford.
He told Football Insider‘s Insider Track podcast: “The debt they’ll take on will be manageable for a stadium project like that.
“It’ll be workable. It would be different if they were putting it into player transfers and taking a risk, but a stadium is a tangible asset.
“They’ll be able to come together with a good package.
“Stock markets and interest rates are coming down, so United could be lucky in terms of securing a decent rate for this project.
“They’ll find good financial backers. Ratcliffe and the Glazers will back it, and there won’t be a problem.
“100,000 is a big number for a stadium, and this is a big project. Hopefully, they’ll be able to fill it every week – I’m watching this one closely.”
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The post 'I'm Watching This Closely' - Keith Wyness reacts to BBC's Man United stadium update appeared first on Football Insider.
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