Though the club’s on-pitch performance has left a lot to be desired this season, Manchester United has received some welcome from the UK government.
Regeneration of the club’s Old Trafford stadium has been on Manchester United’s agenda for some time. In a statement on Saturday, HM Treasury announced its support for the project.
Rachel Reeves, Chancellor of the Exchequer, has lent the department’s support for the project which will encompass new housing, commercial and public space around the Old Trafford area.
This will include the revamp of 114-year old, 73,310 capacity Old Trafford, or potentially a brand new stadium. The revamp option would see the existing round expanded to 87,000 capacity, while a new stadium could have a capacity of 100,000.
New plans for Old Trafford
Though one of England’s most iconic football grounds, the stadium has become the butt of a few jokes among English football fans lately due to being in significant need of refurbishment.
A group of stakeholders interested in the project, the Old Trafford Regeneration Task Force, has been active in preparing and organising regeneration efforts for most of the past year, working closely with the government of Greater Manchester and the county’s mayor, Andy Burnham.
The Task Force published its options report last week estimating that the project will deliver £7.3bn gross value added to the UK economy and over 90,000 employment opportunities.
Omar Berrada, CEO of Manchester United, 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.”
Either option – a renewal of the current ground or construction of an old one – would undoubtedly be a positive development for Manchester United in the long run, and not just by denying visiting away fans something to sing mocking chants about.
A revamped or new Old Trafford would bring with it sponsorship and advertising space, and the club could potentially up its fees for advertising due to the increase in seats – more attendees means more visibility for paying brands.
More seats also means more ticket revenue, and the chance for Manchester United to engage with its global supporter base in the most effective way possible, by getting people to attend a game.
Lastly, the ambition shared by Mayor Burnham and Manchester United co-owner Sir Jim Radcliffe for Old Trafford to become a ‘Wembley of the North’ could generate additional revenue and exposure for the club and wider area in other ways such as via world title boxing matches or huge concerts.
