One of the world’s most famous football clubs, Manchester United, says it intends to build a new 100,000-seat stadium as the centrepiece of the regeneration of the Old Trafford area of its namesake city.
United says the £2 billion (A$4.115 billion) stadium and wider regeneration project have the potential to deliver an extra £7.3 billion per annum to the British economy, bringing with it large-scale social and economic benefits.
That includes the possible creation of 92,000 new jobs, more than 17,000 new homes and driving an additional 1.8 million visitors to the city each year.
Manchester United co-owner Sir Jim Ratcliffe said the announcement marks the start of an incredibly exciting journey to the delivery of what will be the world’s greatest football stadium, in the centre of a regenerated Old Trafford.
“Our current stadium has served us brilliantly for the past 115 years, but it has fallen behind the best arenas in world sport,” Ratcliffe said.
“By building next to the existing site, we will be able to preserve the essence of Old Trafford, while creating a truly state-of-the-art stadium that transforms the fan experience only footsteps from our historic home.
“Just as important is the opportunity for a new stadium to be the catalyst for social and economic renewal of the Old Trafford area, creating jobs and investment not just during the construction phase but on a lasting basis when the stadium district is complete.
“The Government has identified infrastructure investment as a strategic priority, particularly in the north of England, and we are proud to be supporting that mission with this project of national, as well as local, significance.”
Ratcliffe does the rounds
Ratcliffe - the UK’s richest man with a net worth of £21.05 billion - formally bought into the Red Devils in December last year, paying £1.2 billion for a 27.7% stake in the club and topping it up with a further £79 million to increase his share to 28.94%.
The club is still majority-owned by the Glaszer family, yet they have apparently absolved all responsibility for day-to-day operations of Ratcliffe and his team.
The announcement comes as Ratcliffe spoke candidly in the press, discussing United’s current woes - the club has won just nine games out of 28 to sit 14th in the Premier League - a whopping 36 points behind league leaders Liverpool.
In an interview with leading football pundit and Manchester United alumni Gary Neville, Ratcliffe spoke about cost-cuts such as justifying 450 staff redundancies so far this financial year - 39% of the club’s workforce.
He also spoke about wage bill blowouts and the need to change the culture at the club. The club will likely miss out on a top four position by the end of the season and miss out on European tournaments again next year.
Manchester United is England’s second most successful European club behind rivals Liverpool FC.
