Manchester United have officially announced plans to leave Old Trafford and move to a newly built 100,000-seater stadium.
The club, which has called Old Trafford home for the past 115 years, conducted an extensive consultation process before deciding between redeveloping the existing ground or constructing a new one.
A Historic Move
Old Trafford has been Manchester United’s home since 1910, but the club now plans to embark on one of the most ambitious stadium projects in football history.
The new venue will be designed by renowned architects Foster and Partners and will feature a distinctive umbrella design along with a public plaza “twice the size of Trafalgar Square.”
A standout feature of the design includes three towering masts, dubbed “the trident,” which will stand 200 meters high and be visible from 25 miles away.
Funding and Financial Plans
Despite currently being £1billion in debt, Manchester United have yet to confirm how they will finance the stadium.
However, club chief executive Omar Berrada expressed confidence in securing investment, calling the project “a very attractive investment opportunity” and stating he was “quite confident we’ll find a way to finance the stadium.”
A Wider Regeneration Project
The stadium will be at the heart of a major regeneration initiative in the Old Trafford area, expected to be the largest of its kind in the UK since the transformation of Stratford for the 2012 London Olympics.
Chancellor Rachel Reeves has already pledged government backing for the project.
United claim the development could generate 92,000 new jobs, lead to the construction of 17,000 homes, and attract an additional 1.8 million visitors annually.
The club estimates the entire project could contribute £7.3 billion per year to the UK economy.
“Today marks the start of an incredibly exciting journey to the delivery of what will be the world’s greatest stadium,” said Ratcliffe.
“Our current stadium has served us brilliantly for the past 115 years but it has fallen behind the arenas in world sport.
“I think we may well finish up with the most iconic football stadium in the world.”
