Manchester United has announced their plans to build the country’s biggest stadium which will accommodate 100,000 people worth 2 billion pounds.
The new stadium will become the largest in the UK, surpassing Wembley Stadium which has a capacity of 90,000. This development is part of the government’s regeneration project of the city which guarantees social and economic renewal of the surrounding area.
The Architect and Founder of Foster + Partner has given a timeline of five years for the completion of the stadium while Sir Ratcliffe also added that the process will be determined by the government’s regeneration efforts.
Giving more details of the design Lord Foster said: “The stadium is contained by a vast umbrella, harvesting energy and rainwater, and sheltering a new public plaza that is twice the size of Trafalgar Square.”
Once the stadium is constructed and opened, United’s existing home Old Trafford will be demolished. The Red Devils will continue training and playing their home matches at Old Trafford until they move to the new stadium around 2030 -2031.
Co-owner of United Jim Ratcliffe has created an image of this project being a state-of-the-art stadium that will give fans a time of life experience while watching entertaining football.
This project will also create job opportunities and will have major investments.
“Today marks the start of an incredibly exciting journey to the delivery of what will be the world’s greatest football stadium, at the centre of a regenerated Old Trafford.
“Our current stadium has served us brilliantly for the past 115 years, but it has fallen behind the best arenas in world sport.
“By building next to the existing site, we will be able to preserve the essence of Old Trafford, while creating a truly state-of-the-art stadium that transforms the fan experience only footsteps from our historic home.
Just as important is the opportunity for a new stadium to be the catalyst for social and economic renewal of the Old Trafford area, creating jobs and investment not just during the construction phase but on a lasting basis when the stadium district is complete.
The government has identified infrastructure investment as a strategic priority, particularly in the north of England, and we are proud to be supporting that mission with this project of national, as well as local, significance.
Many have been wondering where the club will get money to fund this project as the club has been taking major cost-cutting measures. More than 200 staff members were dismissed, the first wave of job losses began last season with around 250 employees losing their jobs.
United has lost more than 300 million pounds over the last three years. The Club has not revealed how the stadium will be financed, with them having a 1-billion-pound debt. Ratcliffe has suggested several options of taking loans, private investments, and investments to fund the project.
