United View: New stadium plans revealed

Following Manchester United’s 1-1 draw against Arsenal, Co-Owner Sir Jim Ratcliffe held an interview to discuss the goings on at the club, shining a light on the challenges he and the management team have faced so far and what to expect in the future. 

During the interview, Ratcliffe briefly mentioned plans for a new stadium, stating “I think it is financeable”.  

Then, just hours after the interview was aired, the club published detailed plans for the new 100,000 seater stadium, including quotes with the proposed architect Lord Norman Foster.

The new stadium would be built on land adjacent to the current Old Trafford, as part of a wider regeneration of the Trafford Wharfside area.  

The club say that the new stadium and regeneration project have the potential to deliver an additional £7.3billion ($9.7bn) to the local economy, create 92,000 job opportunities and build more than 17,000 new homes, as well as drive an additional 1.8 million visitors annually. 

Though there has been talk of the government funding the project, Sir Jim was quick to quash these rumours, saying:  

“'We’re not going to ask the government for any money to build the ground, but we can’t afford to do all the other stuff around it.” 

The owner of INEOS was in attendance at Old Trafford for the Arsenal match with a member of the Glazer family, watching on as Bruno Fernandes’ free kick helped United earn a point in a game they could have won, considering the chances they had. Sir Jim said he saw progress in the second half, and the Stretford End played a key role in backing the team. 

This came just hours after a fan-led protest, with thousands gathering in the street to march to Old Trafford ahead of kick-off, unhappy with many choices being made at the club, such as an increase in ticket prices, redundancies, and poor results and performances this season. 

Perhaps this was why he felt compelled to talk: to give fans some insight into some of the unpopular decisions he and the board are making. Explaining that he is willing to be unpopular to get the club back where it needs to be. 

When asked about ticket prices, he suggested that they will increase next season, but not by much. Also, stating that when tickets were being sold for £66, there were only around 500 people sold at that price after originally being returned to the club by people unable to attend the game. 

United have the current persona of a club pinching pennies, with people losing their jobs and staff losing a free lunch due to cost-cutting. Sir Jim suggested this perk could return in the future when the club becomes more profitable again, and these measures are necessary for a club losing millions each year. 

The most shocking revelation was that without this intervention, Manchester United would have gone bust before the end of the year, further demonstrating the drastic measures being taken to stabilise the club’s financial situation. 

It’s a startling truth, but one that isn’t surprising after years of mismanagement at the hands of the Glazer family, whom Ratcliffe acknowledged had made mistakes but was diplomatic on his standing with them. From a business standpoint, it would have been ill-advised to slander his business partners in a public interview, regardless of how well within his right it would have been to do so. 

In the last four years, Manchester United has lost £330 million, and this summer, a further £89 million will be deducted for player purchases, including Antony, Casemiro, and Rasmus Hojlund. In Ratcliffe's view, player recruitment is the biggest issue that needs to be fixed at United. 

While he recognises that things are rough right now, he’s confident that within the next 3-5 years the club will start to be profitable again, with the addition of a new stadium, along with bringing silverware back to Old Trafford. 

He’s also very happy with new manager Ruben Amorim, considering the tough circumstances he finds himself in, making do without some of his top earners in the squad and has promised to properly back him in the summer. 

While he and the board have undoubtedly made mistakes during their time at Old Trafford – such as the Erik ten Hag and Dan Ashworth sackings – it is at least refreshing to see a Manchester United owner front up to what is happening at the club after decades of silence from the Glazers. 

United now face Real Sociedad in the return leg of the Europa League, arguably their biggest game of the season. A win would put them into the Quarter Final of the competition as they cling to the hope of qualifying for the Champions League.