Manchester United have confirmed a hugely exciting update on their multibillion-pound Old Trafford regeneration project.
Breakthrough
United have released a statement, confirming that the club has secured the majority of the land required to construct a brand new state-of-the-art 100,000-seater stadium.
In March of last year, United co-owner Sir Jim Ratcliffe announced ambitious proposals for a new stadium, which is destined to become the largest in the country and will sit on a site adjacent to the club’s historic Old Trafford home.
The 370-acre regeneration project is expected to deliver approximately 15,000 new residential units, including affordable housing, generate 48,000 jobs in the local area and more than 90,000 across the UK, and add in excess of £7 billion each year to the economy.
The main obstacle standing in the way of progress had been an inability to reach an agreement with Freightliner for the land required to construct the new stadium this summer, though a report covered by The Peoples Person indicated that United were optimistic about a resolution.
Now, the Red Devils have announced they have acquired the 25-acre site, located approximately 350 metres north west of the current stadium, from Indurent, a leading provider of industrial space and a Blackstone portfolio company.
United note that they will work with any affected businesses as they undergo a period of transition.
United statement
Collette Roche, CEO, Manchester United’s New Stadium Development, said, “Today’s news highlights the progress we’re making towards a world-class new home for Manchester United and represents a significant milestone as we move into the next phase of development.”
“Being able to build so close to Old Trafford allows us to preserve the heritage, traditions and rituals that are so important to our fans.”
“We are committed to building a world-class stadium with our supporters, not just for them, with atmosphere, affordability and accessibility at the heart of our thinking.”
“This is a generational opportunity that is fully aligned with both local and national growth ambitions.”
“Securing the right land for our new home has been absolutely critical, and the land we’ve acquired gives us the stage to deliver a truly world-class stadium that honours our past and is ready for our future.”
The Mayoral Development Corporation will publish the wider masterplan for the Old Trafford regeneration project and details on the formal consultation period on 9 July.
Featured image Alex Livesey via Getty Images
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