The new 100,000 seat stadium has been announced as a replacement for the Old Trafford stadium
Once the new Manchester United stadium has been constructed, the existing stadium will be demolished.
The new stadium will be built nearby and is hoped to be completed in five years.
Foster and Partners are the new Manchester United stadium’s architects
Foster and Partners have announced that the stadium will feature an umbrella design and a public plaza that is “twice the size of Trafalgar Square”, as well as three masts, called the trident, 200m high and visible from 25 miles away.
The stadium is predicted to be the largest of its kind since Stratford was transformed during the 2012 London Olympics.
The stadium will also be a part of the wider regeneration of Old Trafford, which in itself is part of a larger ongoing project to regenerate several Manchester areas, including Salford and Cambridge.
The construction of the new Manchester United stadium is expected to create 92,000 jobs, build 17,000 homes, boost annual visitors to the area by 1.8m, and add £7.3bn to the UK economy per year.
The Old Trafford stadium has stood as the home for Manchester United football team since 1910, but has recently been criticised for a growing catalogue of issues, including leaky roofs. The stadium has not undergone major work since 2006, and re-purposing the stadium as the home for Manchester United’s women and youth teams was deemed not cost-effective.
Questions remain about finances
Manchester United are currently in £1bn of debt, leaving doubts as to how the club could afford such an ambitious project.
Co-owner Sir Jim Ratcliffe, said: “Today marks the start of an incredibly exciting journey to the delivery of what will be the world’s greatest stadium.
“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.”
Greater Manchester mayor, Andy Burnham, said: “If we get this right, the regeneration impact could be bigger and better than London 2012.
“Manchester United could, and indeed should, have the best football stadium in the world.
“To me, that means a stadium that is true to the traditions of the club, affordable to all, with nobody priced out.”
Mark White, Partner at Charles Russell Speechlys, said: “There is no doubt that Old Trafford has fallen far behind other stadiums and does not offer Manchester United the opportunities available to rivals such as Manchester City, Tottenham and Arsenal. It has also started to act as an unfortunate metaphor for on pitch performance, which in turn can only damage the club’s brand.
“It appears that the club will be looking to develop the new stadium as part of a wider regeneration scheme and how it is financed, connectivity to Manchester city centre, train stations and the airport, and surrounding hotel, retail and dining amenities will be critical factors in whether it actually delivers the revenue upside that the club are expecting.”
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