Sir Jim Ratcliffe was considering approaching Elon Musk and Jeff Bezos to help finance his 'Wembley of the North' project, a recent report has revealed, as the co-owner approaches his first anniversary at Old Trafford.
Since purchasing a minority stake in the Red Devils, Ratcliffe's stewardship has seen a change of manager and the worst start to a Premier League season in the club's history.
One of the key issues that characterized his campaign for part ownership – and which has remained prominent throughout his time there – was the stadium.
Old Trafford is one of the most iconic stadiums in the world, but is in a state of disrepair and in need of repair and renovation.
Prior to Ratcliffe's purchase, the prospect of a 'Wembley of the North' was often discussed, although it remains unclear what exactly a new stadium would look like.
The prospect of razing the ground, rebuilding parts and preserving others as part of a museum were all concepts that had been put forward.
The biggest question, however, was how the rebuild would be financed, with the project likely to cost around £2 billion – more than the £1 billion Tottenham paid for their flagship home.
Ratcliffe may be Britain's richest man, but a report from the Athletic has since revealed that he came up with the idea of getting funding from Elon Musk or Jeff Bezos.
According to the report, Ratcliffe felt that one of the world's most famous billionaires could be tempted by United's draw.
Finances wouldn't be an issue for either of them; According to the Bloomberg Billionaires Index, Tesla chief Musk's wealth is estimated at around £387.5 billion, and that of Amazon's Bezos at £196.1 billion.
However, The Athletic writes that it is 'unclear' whether these proposals have ever received the necessary attention.
It was previously reported that the recent increase in ticket prices and the possibility of selling naming rights for the ground were being considered to raise money for a new stadium project.
Those with knowledge of the situation have reportedly expressed doubts that Glazers' majority shareholder would allow Ratcliffe to increase his equity in the club by financing the project himself.
Furthermore, current lenders have the right to determine whether United can indeed borrow more money.
He has also held discussions with the government about the possibility of public financing, while also having the option to sell part of his stake in INEOS to raise capital.
Chief Operating Office Collette Roche is believed to be key to all plans surrounding the stadium, and is becoming an increasingly prominent figure at the club after taking over staff, security and travel duties.
However, Ratcliffe appears determined to build a new stadium and bring the club's infrastructure into the modern era, especially at a time when Manchester City's Etihad Stadium is looking to become a major venue in the north.
Mail Sport exclusively reported that mouse droppings were discovered during a recent visit to Old Trafford by health inspectors before the club was given a two-star hygiene rating.
There have also been notable images of leaks in the roof of Old Trafford over the past 12 months, especially after the home defeat to Arsenal last season.
Head coach Ruben Amorim's press conference after the 3-0 defeat against Bournemouth was also interrupted by water dripping from the ceiling.
Comments