€8.5 billion profit and 90,000 jobs: there could be a new Old Trafford
Manchester United’s new ground task force analysis
Manchester United have released the report of the task force responsible for evaluating the possibility of remodelling Old Trafford or building a new stadium. The initial estimates are… stratospheric: if Manchester United chooses to build a new stadium, it could, according to the research, create up to 90,000 new jobs and 8.5 billion euros for the English economy.
The desire to have a new stadium is not new. Old Trafford has long shown that, after 115 years, and despite several renovations, it needs more in-depth work or a complete overhaul. Non-functional toilets, rain falling under the roof, water dripping into the press conference room and rat infestations are some of the symptoms of a venue that is beginning to fail, despite its undeniable historical value. The task force , responsible for the first report on the possibility of moving forward with major renovations, has announced a possible project to renovate the entire Greater Manchester area. With the stadium at the centre of this “catalyst” for the city’s redevelopment, it could “create around €8.5 billion for the UK economy and more than 90,000 job opportunities”, the research team’s announcement begins. These are the first alternatives: create a new venue for 100,000 people or remodel Old Trafford and increase its capacity from 74 to 85,000.
According to the task force , more than 50,000 Manchester United fans were interviewed and over 90% of them were happy with the idea of a new world-class stadium in an area regenerated by the venue. “A new stadium is the preferred option for fans, with 52% saying they are in favour of this idea. 31% would prefer a redevelopment of Old Trafford and 17% were unsure about which option they would prefer,” the report continues, which also states that over 60% of the 1,000 respondents who live in the area welcome the project. The Trafford area and the Greater Manchester Combined Authority will decide whether to set up a new group to take the project forward.“We have looked at a wide range of options to produce the report on this major opportunity for Manchester United and the local authorities to deliver significant economic and social growth. At the heart of this plan is a world-class football stadium, which will act as a catalyst for one of the largest regeneration projects the UK has ever seen,” said Lord Sebastian Coe, chairman of the task force . Andy Burnham, Mayor of Greater Manchester, said: “This is the biggest opportunity for regeneration the country has seen since the London 2012 Olympics.” “Our region is in a unique position. We are growing faster than the national average and we have innovative systems in place to create housing, jobs and infrastructure that we need to secure.” A project of this magnitude is therefore a long-term plan. “This is a plan that will take several years to come to fruition, but as the report says, it is one of the most significant opportunities for urban renewal in the area and the results will be great for Trafford and the surrounding area,” said Liz Patel, Trafford Council’s Executive Member for Economy and Regeneration.
There are no estimates yet on the cost, or whether Manchester United will cover the full cost, but Sir Jim Ratcliffe invested €250 million in infrastructure last week. It will certainly be insufficient for a project of such magnitude.
