Manchester United is exploring the possibility of building a new 90,000 to 100,000-capacity stadium adjacent to Old Trafford, estimated to cost around £2 billion ($2.5-2.6 billion), with a potential construction time of around six years. Alternatively, the club is considering redeveloping Old Trafford.
The new stadium project is seen as an opportunity to create an economic and social hub in the Trafford area.
The club is exploring various financing options, including private funding sources, potential public-private partnerships, selling naming rights, and the possibility of Ratcliffe and the Glazers contributing personal fortunes.
The new facility would be constructed next to Old Trafford to allow continued use until completion, preserving heritage elements like the Holy Trinity Statue, while giving it an industrial feel. The club is drawing inspiration from stadium development projects around the world, including the SoFi Stadium in LA and the Bernabeu, for potential urban regeneration and creating a "stadium district" with additional amenities.
A revamp of the current stadium is not ruled out would cost an estimated £1 billion and result in lost match-day revenue. Co-owner Sir Jim Ratcliffe has expressed a preference for building a new stadium on the current Old Trafford site and has made the project a priority since becoming co-owner in February, according to The Times and ESPN.
Manchester United's existing debt, excluding unpaid transfer fees, stands at approximately £647.5 million, including historical debt from the Glazer family's takeover and a revolving credit line. Ratcliffe's deal included £237 million for future stadium investment, according to The Global Herald, and BBC.
Discussions about financing options are ongoing.
Manchester United's chief operating officer, Colette Roche, is overseeing the project and has consulted with industry experts.
This article was written in collaboration with Generative AI news company Alchemiq
Sources: BBC, NYTimes, TheGuardian, TheSun, 101GreatGoals, Goal, The Global Herald, HeadTopics, LADbible, TalkSport, Express, Mirror, Manchester Evening News, The Times, Daily Mail, Telegraph, ESPN.