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Manchester United has reached a crucial stage in its stadium redevelopment plans, with the club now tasked with deciding whether to renovate Old Trafford or build an entirely new stadium.
This development comes after extensive background work, led by Sir Jim Ratcliffe, who took control of the club in February.
The Old Trafford Regeneration Task Force, which includes influential figures such as Lord Sebastian Coe, Greater Manchester Mayor Andy Burnham, and former United captain Gary Neville, has submitted its report weighing the pros and cons of both options, per the Mirror.
The current Old Trafford is in dire need of repairs, with structural issues such as holes in the roof drawing criticism and adding fuel to the ongoing tensions with the Glazer family.
Ratcliffe is reportedly in favor of demolishing the historic stadium to construct a modern £2 billion, 100,000-seat arena on the same site.
The report suggests that redeveloping Old Trafford would be a less expensive option, costing around £1 billion, but it would only increase the stadium’s capacity from 74,000 to 87,000.
Additionally, the redevelopment would force the club to close parts of the stadium during the process, leading to financial losses as there are no viable alternative venues to use during the construction phase.
On the other hand, a new stadium would offer a significant capacity boost to 100,000, aligning with Ratcliffe’s vision of turning Old Trafford into a “Wembley of the North.”
Majority of United fans support project
A survey of over 50,000 United fans showed strong support for a new stadium, with 52% in favor, compared to 31% for a redevelopment. The final decision on the future of the stadium is expected before the end of the summer.
A statement from the club highlighted the wider impact of this project, noting it could transform Greater Manchester into a hub for sports, entertainment, business, and education, potentially adding £7.3 billion to the UK economy and creating over 90,000 jobs.
Ratcliffe has drawn inspiration from the £4 billion SoFi Stadium in Los Angeles, which includes a surrounding entertainment district with apartments and hotels.
He emphasized the lack of a large-scale stadium in the northwest, an area home to many top football clubs, and the importance of this task force in securing a once-in-a-generation opportunity for Manchester United and the region.