A world-class stadium is one of the core objectives for Sir Jim Ratcliffe’s Manchester United vision.
Whether it is redevelopment or a new build, the cost will be astronomical, way beyond the kind of figures that have been seen in recent years, such as the £1.2bn it cost to build the Tottenham Hotspur Stadium. Geo-political issues and the increased cost of borrowing mean that any new development or redevelopment is likely to push beyond the £2bn mark, and that is a lot of capital to find.
However, there are many hoops that may be required to jump through, not least the impact on the local area with a major construction site so close to a stadium with a footfall of 74,000 every fortnight. Other aspects such as access to the site and the impact on routes around the area would also need to be considered, as well as whether or not placing a new stadium on top of the the old one would be most beneficial in the long run in terms of space and access.
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When Liverpool owners Fenway Sports Group pressed on with the redevelopment of Anfield it was done by piecemeal through the season. The club remained in situ while development of the Main Stand and more recently the Anfield Road End was completed. It saw reduced capacity for periods of time, impacting the matchday revenue, but the longer term plan of achieving £100m-plus per annum for matchday revenue is well on course.
A move to a smaller home would be problematic on that front. For example, Brighton & Hove Albion’s matchday revenue at the 30,666-seater AMEX Stadium stood at £20.6m for their most recent financial year. United’s 74,310-capacity home allows for 44,000 more fans each week, and while additional home matches would likely see United claim more than £30m in matchday revenue from a temporary switch to a smaller stadium like Bolton’s, the loss of revenue would be significant.
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