Manchester United have unveiled plans for a new £2 billion stadium (pictured above) that will be "the Wembley of the North". The club claims the 100,000-seat stadium will pump £7.3 billion a year into the local economy, creating 92,000 jobs and more than 17,000 new homes. But Omar Berrada, United's chief executive, admitted that, with the team currently languishing in the bottom half of the Premier League table and the club £1 billion in debt, the project was a "risk".
'Bust' by Christmas "New Trafford" is the brainchild of Jim Ratcliffe, whose Ineos organisation took control of the Manchester United's sporting operations just over a year ago. There "have been highs" in Ratcliffe's reign, said The Athletic – United won the FA Cup last May – but there have also been "huge challenges", among them "a sacked manager, mass redundancies, fan protests and a team enduring its worst Premier League season".
Only this week, Radcliffe tried to justify cost-cutting measures by claiming the club was at risk of going "bust" by Christmas, but no evidence was produced to support his claims, said Barney Ronay in The Guardian. The 72-year-old petrochemicals billionaire is "one of the richest men in Britain" and could simply bail the club out but, instead, he's saying, "Go bust or do it my way," said Ronay. This is "basically a threat".
'Has to be matched by progress on the field' Recent Premier League history has shown that a new stadium is far from a guarantee of footballing success. Arsenal, Tottenham and Everton have all made the move to a new ground, and found that the financial constraints severely hamper squad recruitment in subsequent years.
Indeed, for most clubs, "such an ambitious project would be a fiercely challenging prospect because of over-reach", said Simon Jordan in the Daily Mail. But even after a "decade of decay", United benefits from an "unsurpassed recognition" around the world. Ratcliffe will know that building a stadium "has to be matched by progress on the field" but, for Manchester United, "it's an opportunity". In fact, it could be a "vital game-changer for the whole club". |