Manchester United Plans $2.6B New Stadium, Demolishes Old Trafford

Manchester United has unveiled plans to demolish its historic Old Trafford stadium and construct a new 100,000-capacity venue at a cost of approximately £2 billion. The project aims to regenerate the surrounding area, potentially generating an additional £7.3 billion annually for the UK economy and creating up to 92,000 new jobs and over 17,000 homes. Co-owner Sir Jim Ratcliffe emphasized the new stadium will preserve the essence of Old Trafford while delivering a state-of-the-art fan experience. Despite the club's current financial struggles, with £1 billion in debt, Ratcliffe expressed confidence in financing the project, which is seen as a significant infrastructure investment by the UK government, especially in the north. The development aligns with the government's growth agenda and aims to attract 1.8 million more visitors to Manchester each year. The anticipated completion date for the new stadium is projected for 2031.