Manchester United face being saddled with an overall debt in excess of £1bn if they are to persevere with redeveloping Old Trafford and upgrading the club’s training ground.
Old Trafford has been allowed to fall into a state of disrepair in recent years, with no new major work undertaken since the Glazer takeover – the last project was already underway by then and was completed in 2006 as both north quadrants were filled in.
The training facilities at Carrington have already fallen behind that of rivals such as Manchester City and Liverpool, with the latter opening a brand new training complex in 2020.
Despite the huge costs involved, failing to carry out necessary renovations and upgrades is not an option in the increasingly competitive landscape of English and European football.
In April, United confirmed they are working with a management consultant company and also the same architectural firm that built the Tottenham Hotspur Stadium to start creating a ‘masterplan’ for the redevelopment of Old Trafford.
Man United appoint consultants to oversee Old Trafford redevelopment ‘masterplan’
The biggest challenge with regard to the project is the Sir Bobby Charlton Stand on the south side of the stadium. It is currently the smallest of the four stands but backs onto a railway line, making any building and expansion extremely complicated from an engineering point of view.
The Daily Mirror has reported a figure of £300m would be spent just for that stand to be updated. There will be further costs to redevelop the rest of the stadium, while chief executive Richard Arnold estimated £250m for a new training ground in his recent impromptu discussion with angry fans.
Net debt posted in United’s latest financial result up to the end of March 2022 is already £495m.
Arnold, who admitted that United have ‘feeling burnt through cash’ in the transfer market over the last 10 years without seeing the gains, confirmed any money to be spent on Old Trafford or at Carrington would have to be borrowed or come from outside investment.
