Manchester United have welcomed the announcement of government support for the project to revitalize the Old Trafford area. CEO Omar Berrada describes it as a 'once-in-a-lifetime opportunity'.
A statement from the UK Treasury on Saturday evening said Chancellor Rachel Reeves defended the Old Trafford project as “a shining example” of the government's plans to boost economic growth.
A world-class new venue – either redeveloping the current stadium to increase capacity to 87,000 or building a new ground capable of accommodating 100,000 fans – is at the heart of the regeneration project.
“The delivery of a world-class stadium could be the catalyst for a major regeneration of an area of Greater Manchester that requires new investment to thrive again,” Berrada said in a statement on United's website.
“We cannot achieve that wider goal alone and that is why we welcome the Chancellor's announcement and the continued support of the Mayor of Greater Manchester (Andy Burnham) and Trafford Council.
'If we work together there is a unique opportunity to create a monumental project around Old Trafford that the whole region can be proud of.'
While United would take responsibility for the stadium's development, support from government agencies would be needed to unlock the wider regeneration opportunities.
This would include improved transport infrastructure and housing around Old Trafford.
Burnham said: “With our devolved powers, we are mobilizing the entire Greater Manchester system to sustain growth over the next decade and reap the benefits for our city region and UK plc.
“The Old Trafford project represents the biggest opportunity for urban regeneration this country has seen since London 2012 and is a key part of our ten-year plan to boost growth in Greater Manchester.
“We look forward to working with the Government to move freight from the Old Trafford site to new locations to increase the capacity of our rail network and unlock huge regeneration potential, delivering benefits across the North.”
The Old Trafford Regeneration Task Force – whose members include Burnham, former United defender Gary Neville and World Athletics president Lord Coe – last week unveiled an initial options report with findings showing the project would generate an additional GVA of £7 could yield .3 billion. for the UK economy and more than 90,000 employment opportunities.
The two options of adding more than 12,000 people to the existing stadium or building a larger new building remain under consideration, with United set to decide on the preferred approach before the summer.
A survey published in November found that a majority of United fans are in favor of a new stadium over the redevelopment of Old Trafford.
Trafford Council and Greater Manchester Combined Authority will this week discuss the benefits of establishing a Mayoral Development Corporation (MDC) to take the project forward.
An MDC is a statutory body that can drive the delivery of large-scale development, including mixed-use regeneration, transformational urban expansion and new settlements.
It can take on powers to acquire and develop land and bring forward new infrastructure, laying the foundation for ambitious regeneration projects.
A group including Gary Neville, Burnham and Lord Coe were charged with investigating whether United should refurbish Old Trafford or build a new, state-of-the-art replacement on adjacent land.
They discovered that a redevelopment of the existing stadium, which has been there since 1910, would be limited to 87,000.
However, a world-leading new site would maximize its potential and serve as the centerpiece of one of the largest regeneration projects Britain has ever seen.
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