New Manchester Utd stadium could bring £7bn boost, report finds
Replacing Old Trafford with a new 100,000-seat Manchester United stadium and regenerating the surrounding area could bring £7 billion to the UK economy, a new report suggests.
The figures were released as part of a feasibility study by a working group led by Lord Sebastian Coe which is examining options for new or redeveloped sites.
Research has found that refurbishing Old Trafford could increase capacity to 87,000 and the club will decide on the preferred method this summer.
Lord Coe said the plans would be the catalyst for “one of the largest regeneration projects ever undertaken in the UK”.
A report outlining the options has been submitted to Manchester United, the Greater Manchester Combined Authority and Trafford Borough Council.
A spokesman said the report’s preliminary findings suggested the new land would add “an additional total value of £7.3 billion to the UK economy and more than 90,000 jobs”.
Part of the feasibility study included a survey of more than 50,000 Manchester United season ticket holders, which found More than half support building new stadium.
Greater Manchester Mayor Andy Burnham said he planned to set up a new body to help drive the project ahead of a stadium decision.
The Mayor’s Development Corporation (MDC) is a statutory body with powers including compulsory purchase.
mr burnham told BBC Radio Manchester This will ensure space around Old Trafford can be cleared to “maximise the club’s options”.
“It’s all about removing the freight terminal and the freight going through Manchester city center behind Old Trafford.
“It’s not just Manchester United supporters, every rail passenger in the North West will benefit from freight being moved from our city centres.”
Trafford councilor Liz Patel said the wider regeneration of the area was a “long-term plan that will take years to come to fruition”.
The council has a masterplan to redevelop the area, which includes a target of building 5,000 new homes.
