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Manchester United have been handed a significant boost after the government announced support for plans to regenerate the area around Old Trafford.
A UK Treasury statement on Saturday evening noted that Chancellor Rachel Reeves was championing the Old Trafford project as “a shining example” of the Government’s plans to promote economic growth.
United are understood to be considering either a new 100,000-seat stadium or an 87,000-seat refurbished arena. The former appears to be the most likely outcome, with a final decision expected before the end of the season.
It’s understood that the club will be responsible for stadium development but public bodies will be required for other areas of the project including improved transport infrastructure and housing.
In response to the Treasury statement, United CEO Omar Berrada 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.”
Andy Burnham, Mayor of Greater Manchester, remarked, “With our devolved powers we’re mobilising the whole Greater Manchester system to lock in growth for the next decade and reap the rewards for our city-region and UK plc.”
“The project around Old Trafford represents the biggest opportunity for urban regeneration this country has seen since London 2012 and is a key part of our 10-year plan to turbocharge growth across Greater Manchester.”
“We look forward to working with the Government on moving freight away from the site around Old Trafford to new locations to open up capacity for our rail network and unlock massive regeneration potential – delivering benefits across the whole of the North.”
United add that the Old Trafford Regeneration Task Force, chaired by Lord Coe, determined that the project can inject a whooping £7.3bn gross value into the UK economy while also creating in excess of 90,000 employment opportunities.
In the next few days, Trafford Council and Greater Manchester Combined Authority will discuss the benefits of establishing a Mayoral Development Corporation (MDC) – a statutory body that can drive the delivery of huge development projects – as a means to support the endeavour.
According to the Daily Mail, senior United chiefs are hopeful that enabling work could start on the project before the close of the year.
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