Manchester United intends to build a new stadium with capacity instead of redeveloping its existing Old Trafford home.
United announced ambitious plans on Tuesday, with London-based construction firm Fosters + Partners choosing to lead the project.
The new construction will be located on the land around Old Trafford, part of the wider regeneration of the Trafford Pier area. The club said in a press release that new stadiums and regeneration projects have the potential to provide an additional £7.3 billion ($9.7 billion) of an additional £7.3 billion ($97.7 billion) to the local economy, creating 92,000 jobs, and building more than 17,000 new homes and adding 1.8 million visitors each year.
The Old Trafford Regeneration Working Group, which aims to review the stadium and regeneration project selection, held its last meeting on Friday before being stood.
Foster+ partners presented digital renderings of the new stadium and surrounding areas on Tuesday. These include a three-pronged stadium inspired by the Red Devils Trident on the club badge. The club said the concept image and scaling model will now provide “a master plan for more detailed feasibility, consulting, design and planning work as the project enters a new stage.”
While the ability to determine a rebuilt Old Trafford could be as high as 87,000, the new building could accommodate up to 100,000 supporters.
A survey of Manchester United supporters last year showed that 52% of fans asked to build a new stadium from scratch, while 31% chose to rebuild.
“Today, it’s the beginning of an exciting journey to the heart of a regeneration Old Trafford that will be the greatest football field in the world,” said Sir Jim Ratcliffe, the club’s co-owner, in a press release.
“Our current stadium has served us well over the last 115 years, but it lags behind the best arenas in the world’s sport. By building next to an existing location, we will be able to retain the essence of Old Trafford while creating a truly state-of-the-art stadium that transforms the fan experience from our historic home,” Ratcliffe said.
“It is important that the new stadium has the opportunity to be a catalyst for social and economic renewal in the Old Trafford area, creating not only jobs and investments at the construction stage but also a lasting foundation when the stadium area is completed. The government has identified infrastructure investment as a strategic priority, especially in northern England, and we are honored to support this mission in a national and local sense.”
Ratcliffe expects to plan a “modular build” (a structure built and run elsewhere) “a five-year project, not a decade”, aiming to significantly reduce build time.
(Manchester United/Foster+ Partner)
The task force published its options report examining the benefits of new construction and rebuilding the stadium earlier this year.
The report concluded that while both options will “provide transformative benefits for the club and for Trafford and beyond,” these benefits will “amplify under new build options.”
“Our long-term goal as a club is to have the best football team in the world play in the best stadium in the world,” said CEO Omar Berrada. “We thank the Old Trafford Regeneration Task Force for the feasibility work done and explore the options for the future of Old Trafford.
“We have carefully considered its findings, as well as the views of thousands of fans and local residents, and concluded that a new stadium is the right path for Manchester United and the communities around us. Now we will conduct further consultations to ensure that we continue to hear fans and residents as we move towards the final decision.”
(Michael Reagan/Getty Image)
Sir Alex Ferguson, the club’s legendary former manager and 13 Premier League champion, said: “Manchester United should always strive for the best of everything we do on the court and on the court, including the stadium we are participating in. Old Trafford has a lot of special memories for me personally, but we personally have to be brave and seize this opportunity to build a new house that suits a new history, in this new history, a new history, ””
Funding remains a major question mark, with the estimated cost of a newly built stadium exceeding £20 billion. As reported sports In June, Manchester United will consider selling the naming rights to its new home to help pay for the project.
“As PLC, we can’t speculate that there is too much money,” Berrada said in a briefing with reporters in London after the announcement on Tuesday. “What I’m going to say is that as the core, it’s a very attractive investment opportunity. We are very confident that we will find a way to fund the stadium.”
The Manchester United Supporters Trust welcomed the program, but attracted attention and the need to consult with fans when the project was established.
“For Manchester United fans, the announcement of plans to build a brand new stadium adjacent to Old Trafford is clearly big news. Everyone wants the biggest and best club, and the visuals look both amazing and exciting. But the news does raise more questions than giving a clear answer next year’s ticket prices around uncertainty, underperforming on the scene, speculation about sales of major young players and speculations on recent financial results.”
“It could be very exciting if they could make a new stadium like the plan implies without damaging the atmosphere, without hiking fares, without damaging investments elsewhere. But before answering the question, our optimism about making Old Trafford’s biggest plan will be limited by caution for the consequences of fans.”
“The main question is how to pay for it”
Analysis by Manchester United correspondent Laurie Whitwell
This result fell behind when Ratcliffe passed through the door at Old Trafford. Last July, in Los Angeles, senior United figures talked about the possibility of a new stadium reaching 100,000, and Ratcliffe’s desire was obvious.
Of course, the fan base will certainly be appealing in “New Trafford” (especially in the urban regeneration program) – but this view is not consistent, and many people will regret having the ground left by so many memories.
That being said, Ferguson’s support for the project was ruled as ambassador, given that he created many moments that were engraved in the club’s consciousness.
The main question is how to pay for the building: Get more debt through sponsorship or cash injected through Ineos? In this case, a rise in fares seems inevitable, but extra caution must be taken not to price fans.
(Manchester United/Foster+ Partner)
The actual design of the stadium is also crucial. Old Trafford has all the faults, has character and history. Many clubs struggled when they moved to the new stadium. Can some buildings be preserved?
Ratcliffe cheered the camps of Real Madrid and Nou in Barcelona, but both sites were renovated at their original locations.
Lord Norman Foster, founder of Foster + Partners, said: “It all started with the experience of fans, bringing them closer to the stadium than ever before and fostering a huge roar on the acoustic. The stadium is contained on a huge umbrella, collecting energy and rain and covering up a new public square, twice the size of Trafalgar Square.”
Keeping supporters close to the court is crucial to maintaining a connection to action.
But the renderer proposed by Manchester United is far from the current stadium, which will be a huge split. The tents on the ground are strangely juxtaposed in the landscape and things that were before.
Naming rights transactions and more debts?
Analysis by senior football journalist Matt Slater
“Name rights deals are like free money for clubs, and no one who owns a club just leaves money on the table,” Michael Weaver, a sponsorship transaction expert sports. “You just have to look at the United States, and almost every stadium is named after the sponsor, and you can see that.
“If United sells the naming rights to Old Trafford, our analysis shows that they will make about £15m a year, but you can double the new stadium. Suppose a 10-year naming rights deal will pay most of the construction costs and allow them to borrow money for the rest at a higher interest rate. I don’t understand why they won’t do naming transactions.”
Who or what’s the right new home for Manchester United? Will anyone use a new name?
These questions are hard to answer, and Manchester United fans are split – but Arsenal fans are used to Emirates and Manchester City fans, and there seems to be no problem calling their home Etihad.
(Manchester United/Foster+ Partner)
Weaver suggests: “Ineos may be a more palatable sponsor than others United already have actively associated with Ineos, which shows that Ratcliffe’s company is entirely committed to it for a long time and has been in it for a long time.”
“Our research shows that UK fans are no longer naming rights deals. Fans are becoming more financially literate at clubs and they know what it takes to compete on the court, especially if you are fighting rivals backed by sovereign wealth funds. You have to squeeze out all the juice.”
So naming rights transactions will help, but what about the rest?
“It’s going to be very expensive,” said Tim Williams, who has been the group finance director for five years. I’m sure it must be funded by a mix of equity and debt. There will be no shortage of global banks and private equity firms that want to lend out joint funds, but it will be interesting to see how much debt they borrow and where the debt is located.
“Debt is a very long term at Manchester United, but it is usually best to put any stadium debt on the club’s books or club subsidiaries. In the long run, separating the club from the stadium is rarely done.”
(Top photo: Manchester United/Foster+ Partner)
