Man Utd Co-owner Ratcliffe ‘favours’ New 100,000-seat Stadium To Replace Old Trafford
Manchester United part-owner Sir Jim Ratcliffe favours the construction of a new 100,000-seat stadium over a renovation of Old Trafford, according to multiple UK media reports.
A new venue would reportedly cost in excess of £2bn, and would take six years to complete, with Ratcliffe hoping the club will make its decision by the end of the year.
The proposed new stadium would become the UK’s largest venue, surpassing the 90,000-seat Wembley Stadium.
Earlier this year, United appointed a new task force to assess options for a ‘world class’ football stadium. This is chaired by Lord Sebastian Coe, and includes Greater Manchester Mayor Andy Burnham and United legend Gary Neville.
The redevelopment of Old Trafford, which has been home to United for 114 years, would reportedly cost roughly £1.2bn, and could take longer to complete. The iconic venue dubbed the ‘Theatre of Dreams’ has not been renovated since 2006.
In February, when Ratcliffe joined the Red Devils after acquiring a £1.25bn, 27.7% stake in the club, the 71-year-old spoke of plans to build a ‘Wembley of the North’. Indeed, he also committed an investment of $300m (£233.3m) into infrastructure upgrades when he came onboard.
Ratcliffe reportedly would seek funding from both local and national government in order to complete the project, however, it has still yet to be determined how the project would be financed.
Collette Roche, United’s Chief Operating Officer, is said to have visited a number of new and recently renovated venues, and held discussions with stakeholders involved in the projects.
These include Real Madrid’s revamped Santiago Bernabeu, which has been undergoing a reported £1.51bn renovation over the last five years, and SoFi Stadium, the $5.5bn (£4.28bn) home of the NFL’s Los Angeles Rams and chargers in Inglewood, California.
SoFi usually seats 70,240 spectators on game days, however the venue can add an additional 30,000 seats for larger scale events, such as concerts.
United played at SoFi on 28th July during a preseason friendly against Arsenal. Prior to the game, the club reportedly held meetings with those involved in building the stadium, which sits within a 298-acre complex that includes a lake park, shopping outlets, a plaza, a 300-room hotel and more than 2,500 apartments.
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