The Government have given a huge boost to Man Utd’s plans to build a 100,000 capacity super-stadium, with Chancellor Rachel Reeves announcing that she is backing the project
Manchester United fans are a step further to seeing their club get a new super-stadium after a redevelopment project was given the green light.
Old Trafford is poised to become one of the grandest arenas in Europe with a capacity of 100,000. The Government backing means Sir Jim Ratcliffe’s plan to revamp the iconic stadium just got real.
However, the decision on whether United’s home will be redeveloped up or totally rebuilt is yet to be made by the club.
Chancellor Rachel Reeves has now backed the project, aiming to transform not just the stadium but also giving the neighbourhood a facelift with brand new houses and other spaces.
A spokesperson for Reeves said: “The Chancellor revealed today that she is championing a regeneration project around Old Trafford in Manchester that will see new housing, commercial and public space as a shining example of the bold pro-development model that will drive growth across the region, with authorities exploring setting up a mayoral development corporation body to redevelop the area.”
Manchester United’s CEO Omar Berrada has hailed the potential of the massive project to help the area thrive again.
In a statement, he said: “The delivery of a world-class stadium can be the catalyst for major regeneration of an area of Greater Manchester which requires new investment to thrive again.
“We cannot achieve that wider aim on our own, which is why we welcome the announcement by the Chancellor and the ongoing support of the Mayor of Greater Manchester and Trafford Council. If we work together, there is a once-in-a-lifetime opportunity to create a landmark project around Old Trafford that the whole region can be proud of.”
Andy Burnham, Mayor of Greater Manchester, said: “With our devolved powers we’re mobilising the whole Greater Manchester system to lock in growth for the next decade and reap the rewards for our city-region and UK plc.“The project around Old Trafford represents the biggest opportunity for urban regeneration this country has seen since London 2012 and is a key part of our 10-year plan to turbocharge growth across Greater Manchester. We look forward to working with the Government on moving freight away from the site around Old Trafford to new locations to open up capacity for our rail network and unlock massive regeneration potential – delivering benefits across the whole of the North.”
The Old Trafford Regeneration Task Force revealed an initial options report last week. This included findings that showed that the project can deliver an extra £7.3bn gross value added to the UK economy and more than 90,000 employment opportunities.The Task Force determined that a redeveloped Old Trafford could increase the capacity of the existing stadium to 87,000, but a new build stadium would allow capacity to reach 100,000.
The Club confirmed that both options remain under consideration, as they are yet to decide on the preferred approach ahead of the summer.
Billionaire Jim Ratcliffe is itching to give United’s home a facelift and has been vocal about his plans to erect a ‘Wembley of the North’.
He’s got big dreams for the area, previously stating: “Trafford Park is where the industrial revolution began. If you look at that region of Manchester today – only a mile from the centre – it is tired and neglected and parts are quite run down
“There is quite a big argument, in my view, for regenerating that whole south side of Manchester. The nucleus of it would be building a new world-class state-of-the-art stadium which could take England games, the FA Cup final, Champions League finals. It could serve the north of England.”