Old Trafford redevelopment could deliver £7.3bn per year for UK economy, says study
The redevelopment of Old Trafford and the surrounding Trafford Park area could generate £7.3bn annually for the UK economy, according to a study led by Oxford Economics.
The report estimates that the regeneration project could create 92,000 new jobs, as well as providing more than 17,000 new homes, and drawing in as many as 1.8 million visitors each year.
The Red Devils are exploring the redevelopment of Old Trafford, which has been the club’s iconic home for the last 114 years.
Having appointed a dedicated task force earlier this year, United are weighing up the prospect of a new 100,000 seat stadium, which would cost between £2bn and £3bn, with part owner Sir Jim Ratcliffe reportedly favouring the construction of a new venue.
Earlier this week, the 20-time English champions recruited UK architecture firm Foster + Partners to develop a masterplan for the regeneration of the Old Trafford District surrounding the stadium.
The study looked into the potential impact that a 100,000 seater, ‘world-class’ stadium could have on the Old Trafford area, as well as new mixed-use developments botharound the venue and in the Trafford Wharfside area.
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