The English club has concluded its discussions with the local authorities of the city as well as the United Kingdom government regarding the construction of a new stadium with a seating capacity of 100,000 spectators, which will be located adjacent to the "Theatre of Dreams." The capacity of the existing stadium will be reduced, and it will host matches for the youth team, the women's first team, and various other commercial activities.
Initially, Sir Jim Ratcliffe’s entry as a minority shareholder in Manchester United and his assumption of control over the club’s sporting operations set forth the primary objective of redesigning Old Trafford. However, he ultimately decided to move forward with the construction of a new stadium, the cost of which is expected to reach approximately three billion euros.
The cost of refurbishing Old Trafford would have been half of that, but Ratcliffe determined that only a new stadium could fulfill the requirements of the project he envisions for Manchester United. This decision has already sparked division among the club’s supporters, as approximately 47% of respondents favor the redevelopment of Old Trafford, while 53% are in agreement with the plan proposed by the English billionaire.
The government of the United Kingdom has granted approval for the commencement of the project, as Ratcliffe has committed to ensuring that Manchester United will independently finance the construction of the new stadium, which is being referred to as the "Wembley of the North." The design of the stadium is entrusted to the internationally acclaimed architectural firm Foster + Partners. According to estimates, the new stadium is expected to generate 90,000 jobs over the next decade, with projected annual revenues for the country’s economy reaching eight billion pounds.
Creation of New Housing Furthermore, the project is anticipated to create over 17,000 new homes and attract 1.8 million visitors annually. "This day marks the beginning of an incredibly exciting journey towards the realization of what will become the largest football stadium in the country, at the heart of a revitalized Old Trafford," stated Ratcliffe, adding:
"Our current stadium has served us admirably for the past 115 years, but it has become outdated in comparison to the finest sports venues globally. By constructing the new stadium adjacent to the existing site, we will be able to preserve the essence of Old Trafford while simultaneously creating a state-of-the-art facility that will transform the fan experience, mere steps from our historic home.
