Manchester United have backed Jim Ratcliffe’s plans to demolish Old Trafford and build a new state-of-the-art stadium on the site.
A joint working group has been set up to explore options for regenerating the city’s Old Trafford area with the new stadium at the center of the project, headed by Lord Sebastian Coe and including former United defender Gary Neville.
The ambition is to create a world-leading stadium at the heart of vibrant communities. The move has been driven by Jim Ratcliffe and his INEOS team, who have acquired a 25 per cent stake in the club.
They will draw on their extensive experience in financing major infrastructure projects which have cost far more than the £2bn a new build is expected to cost.
Public financing has not been ruled out, although United insists that it is “not looking for handouts.” The plan is to include and improve transportation centers, services and mixed-income housing. An educational institution could also be included.
Manchester United have backed Jim Ratcliffe’s plans to demolish and rebuild Old Trafford.
Such a redevelopment would extend from Old Trafford to the water and link the surrounding area with MediaCity.
The INEOS group is leaning towards a rebuild on land next to United’s iconic home, hoping the project will be completed in five years or sooner.
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Any new stadium is likely to feature a new, interactive museum and a 5-star hotel. Those involved believe that a new stadium would set new standards in energy efficiency and environmental protection.
A statement issued by United, which will seek investment partners for what would be a vast project, said the group will “assess the feasibility of a new stadium of national significance equipped to host international matches and finals, as well as providing a modernized home for Manchester United.” .’
Ratcliffe had already indicated that building a new stadium from scratch would make more sense than rebuilding the existing ground.
He said: “This can be a major regeneration project for an area of Greater Manchester that has played such a key role in British industrial history, but which today requires new investment to thrive again.”
“The north-west of England has a greater concentration of big football clubs than anywhere else in the world, but we don’t have a stadium the size of Wembley, the Camp Nou or the Bernabeu. We won’t be able to change that on our own, which is why “This task force is so important in helping us take advantage of this once-in-a-century opportunity.”
United have promised the club will not move away from its traditional headquarters but back Ratcliffe’s vision following its £1.3bn investment.
It is understood United could have funded a redevelopment themselves but will need the help of public or private funds to build the new stadium on land next to Old Trafford.
The club has already surveyed 30,000 fans about the future of Old Trafford as part of its initial master planning process ahead of the strategic review, and we will continue to use the results to influence our thinking.
A working group has been set up to explore options to regenerate the Old Trafford area in Manchester.
World Athletics President Lord Sebastian Coe (above) will lead the joint working group
Lord Coe said: ‘Throughout my career in sport, I have seen the potential for stadiums to become focal points for strong communities and catalysts for social and economic development. This was certainly true of the venues we built in east London for the 2012 Olympic Games, and we are overdue for a project of similar scale and ambition in the north of England.
“I am honored to have this opportunity to share my experience in support of this tremendously exciting project.”
Gary Neville added: “I am incredibly lucky to have had the privilege of playing hundreds of games at Old Trafford and no one can take those incredible memories away from me.”
“But Old Trafford has evolved throughout its history and it is clear that we are at a point where it has to change again to ensure that Manchester United has a world-class stadium worthy of the best club in the world. While I want it better for Manchester United, I also want the same for the surrounding community.
“Old Trafford should be a stadium that all of Greater Manchester can be proud of and be a catalyst for sustainable and cohesive growth in an area of the city that has been neglected for too long.”
Mayor of Greater Manchester Andy Burnham, who is also part of the task force, said: “The development of one of the most iconic stadiums in world football will help attract investment, create jobs and generate new opportunities that will not only benefit to Trafford but communities across our city-region and beyond.
‘Greater Manchester has been a hotbed of innovation and creativity for centuries, and sport has played a huge role in shaping our past and present. “This bold and exciting vision for the future of Old Trafford and the surrounding area can become another success story for our city-region.”
Trafford Council chief executive Sara Todd, another participant, added: “We are very pleased that Manchester United have confirmed their commitment to remain at Old Trafford, their historic home, and we welcome the prospect of a renewed investment in the development of a world-class city.” stadium.
Former Manchester United defender and pundit Gary Neville will also be part of the task force.
Ratcliffe says he wants to build a stadium the size of Wembley, the Camp Nou or the Bernabéu
“As plans for the stadium and the neighboring Trafford Wharfside area progress, we have a unique opportunity to truly transform Greater Manchester’s historic industrial ‘engine room’ into a modern hub for growth and a new community, and we want take advantage of the socioeconomic benefits that this will bring, especially for local residents.
“We are committed to working with the club, local residents and other key partners to develop these exciting and ambitious proposals.”