The proposed redevelopment of Manchester United‘s Old Trafford stadium could inject £7.3 billion ($9.7 billion) annually into the British economy, according to an economic feasibility study commissioned by the club.
Despite the grand ambitions for the renovation, Greater Manchester Mayor Andy Burnham confirmed on Monday that no public money would be used for the project. Manchester United is currently weighing options between constructing a brand-new £2 billion, 100,000-seater stadium or redeveloping the existing 74,000-capacity Old Trafford.
Burnham endorsed the regeneration plans, which include a “mixed-use” neighbourhood featuring residential complexes, shopping centres, and improved public transport. He emphasized the project’s potential to create 92,000 new jobs, deliver 17,000 new homes, and attract 1.8 million additional visitors annually, according to the global advisory firm Oxford Economics.
“This could be the biggest regeneration scheme I’ve ever seen in this country,” Burnham said, envisioning Old Trafford as “the best football stadium in the world, benefiting the surrounding community.”
Former Manchester United and England star Gary Neville, part of the task force evaluating the redevelopment, voiced his support for the plans.
Neville stated, “The most important thing is Manchester United end up with a world-class stadium.” He also highlighted the broader benefits of the regeneration, citing the role of football in transforming local communities.
Man United co-owner Jim Ratcliffe, a British billionaire, is leading the project, though initial suggestions of seeking government funding have been dismissed. The club has hired the globally renowned architectural firm Foster + Partners to develop the plans, with fans invited to share their input.
The regeneration project, which also includes significant improvements to regional transport infrastructure, could reshape the future of Manchester United’s iconic home and bring significant economic and social benefits to the area. (BusinessDay)
