EXCLUSIVE: Manchester United presented with plans for £1bn rebuild of Old Trafford and new £2bn stadium on land surrounding the Theatre of Dreams… but expansion project is on hold with club up for sale
- Man United have been presented with a raft of stadium expansion options
- Plans include the demolition of Old Trafford and building of a brand new home
- Situation is on hold, with any expansion likely to be decided on by new owners
Manchester United have been presented with a raft of stadium expansion options – which include the demolition of Old Trafford and building of a brand new home.
In March last year, Sportsmail revealed that the drastic and vastly expensive move was one of those being considered.
The following month, leading consultants Legends International and Populous – who were responsible for Spurs’s new home – were appointed and it is understood that they have now completed their assignment.
Manchester United have been presented with a raft of stadium expansion options
Late last year club officials were presented with plans which included a refurbishment of Old Trafford and a new home which would be most likely to be built on the acres of club-owned land surrounding the Theatre of Dreams.
However, the situation is now effectively on hold, with any expansion likely to be decided on by new owners.
United are currently up for sale and it is thought that interested parties will be given access to the plans and the likely costs involved. A new home, which would have the advantage of allowing United to carry on playing at Old Trafford while work is carried out, could cost close to £2bn. And, given the complications involved, an upgrade of the club’s 112-year-home, could also go north of £1bn.
A major focus of any project would be on revamping the club’s lucrative corporate hospitality
United execs were presented with two overall concepts. One was based on remaining at Old Trafford while the other was a switch to a new, state-of-the-art stadium.
Each of the two concepts then had various options, with regards to features such as capacity.
While an increase on the existing 74,000 is expected, a major focus of any project would be on revamping the club’s lucrative corporate hospitality.
Demand is currently so high that some punters pay to dine at nearby Old Trafford cricket ground, before walking up to the stadium itself.
The Glazer family announced that they were seeking outside investment in November and would consider a potential sale
No final costs have been presented, the concepts give an indication of the types of finance needed.
In November, the Glazer family announced that they were seeking outside investment, which could include a sale. They have tasked the Raine Group, the investment bankers who oversaw last year’s Chelsea takeover, to find the best deal.
Joe Ravitch, Raine partner and co-founder, is leading the search. He was instrumental in the Chelsea sale, which saw the club go for a hefty £2.5bn, with a further £1.75bn investment promised.
Manchester United declined to comment.
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