English soccer giants Manchester United have announced plans to build the biggest stadium in the UK – a new £2 billion ($2.59 billion), 100,000-capacity venue close to their current ground of Old Trafford.
The proposal, unveiled today, means the club will leave their home of 115 years, with the existing stadium to be demolished once construction is complete (in a promotional video, completion has been cited as expected to take five years from now).
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Old Trafford, which has a capacity of 76,000 after its last expansion in 2006, made its debut in 1910.
The club has estimated building the new grounds on club-owned land adjacent to Old Trafford can be completed within half a decade, with architects Foster + Partners looking to begin work this year.
The announcement follows recommendations made by the Old Trafford Regeneration Task Force, which was set up more than a year ago, and several fan consultations, to weigh up whether to redevelop Old Trafford or build a new stadium entirely.
Manchester United co-owner Sir Jim Ratcliffe, who holds a stake of 28.94% in the club (an initial deal for a 27.7% holding was ratified last February) said: “Today marks the start of an incredibly exciting journey to the delivery of what will be the world's greatest football stadium, at the center 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.”
While the club have not revealed how the new stadium will be funded – they currently have debts of over £1 billion – chief executive Omar Berrada said he is confident the project will attract investors, adding: “It’s still quite early and as a PLC [public limited company] we can’t speculate too much about the funding.
“We are very confident we will find a way to finance the stadium.”
The club have said the new stadium will be built as part of a wider regeneration of the surrounding Old Trafford area that could see the creation of 92,000 jobs and 17,000 new homes in Greater Manchester.
Regeneration efforts will be led by a task force chaired by Lord Sebastian Coe (also currently running to be the next president of the International Olympic Committee).
While the UK government has already voiced its support for the project, the specifics of funding have not been addressed.
The announcement has been welcomed by some fans (but by no means all), with the United fanbase having been protesting against the club’s ownership on the back of ticket price rises, mass cost cuts and redundancies, and disappointing on-field results.
The club is majority owned by the American Glazer family, who also own American football team the Tampa Bay Buccaneers. Ratcliffe purchased close to 30% of the club in February last year and vowed to return the club to its former glory.
However, his first full year at the helm has proved difficult, with the club suffering their worst finish in a Premier League season last year, and currently sitting in the bottom half of the table as 2024-25 nears its conclusion.
Indeed, the Manchester United Supporters Trust fan group said more answers would be needed over the new stadium’s funding to address concerns over the future of the club.
In a statement, it said: “Whilst investment is much needed and welcome, fans remain anxious about what it means and what the consequences will be.
“Will it drive up ticket prices and force out local fans? Will it harm the atmosphere, which is consistently fans’ top priority in the ground? Will it add to the debt burden which has held back the club for the last two decades? Will it lead to reduced investment in the playing side at a time when it is so badly needed?
“We look forward to further consultation with supporters and discussing these vital questions with the club.”
If the plans go ahead, the new stadium will surpass London's Wembley, which is currently the biggest stadium in the UK – with a 90,000 capacity (and is home to England’s national football team) – in terms of overall capacity.
