Stefan Borson drops strong verdict on Elon Musk investing in Man United
Manchester United are unlikely to receive funding from high-profile figures like Elon Musk or Jeff Bezos for their new stadium development.
That is the view of former Man City financial adviser Stefan Borson, who exclusively told Football Insider Man United’s existing debt will likely put off any potential investors.
The Premier League giants have set up an expert task force – which includes Manchester mayor Andy Burnham and ex-defender Gary Neville – as they look to either regenerate Old Trafford or build a new facility altogether.
The task force has initially concluded the best option would be the creation of a new stadium, boasting a capacity of up to 100,000.
If United decide to push forward with the plans, the proposed development is expected to cost more than £2billion and take six years to complete.
The Athletic reported on 24 December co-owner Sir Jim Ratcliffe raised the prospect of Elon Musk or Jeff Bezos – the two richest men in the world – providing funds to help pay for the new stadium before purchasing his shares in the club earlier this year.
Man United debt makes stadium investment difficult
Borson admitted it wouldn’t be an interesting proposition for either businessman.
“It sounds like nonsense to me,” Borson told Football Insider.
“It effectively says here’s an investment that is not investable by mainstream funding such as banks and local high net worth’s, so we are going to go off and find two poster-boy billionaires, who have got more money than anyone.
“That story is very weird. I wouldn’t put too much on it, to be honest.
“I don’t really get what Elon Musk or Jeff Bezos are going to get out of funding a stadium and being sat behind billions of pounds of existing debt.
“That’s why it’s not that backable for mainstream finance because they have already got £1billion of debt.
“Whoever puts money into that stadium is not going to be sat in a brilliant place from the perspective of the debt that’s in that club.”
In other news, Man United could terminate Luke Shaw’s contract – insider.
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