Man Utd stadium plans stall with Sir Jim Ratcliffe 'refusing' to pay asking price for land

Manchester United’s £2bn new stadium is already in doubt withSir Jim Ratcliffe reportedly refusing to pay the asking price for land required. The Red Devilsunveiled stunning plans for a new home back in March.

The plans involved their current Old Trafford base being demolished and replaced with a state-of-the-art, 100,000 capacity arena. Meanwhile, the whole area surrounding the stadium would be regenerated as part of a project anticipated to cost an eye-watering £2bn.

There was initially hope that the stadium - dubbed the ‘Wembley of the North’ - would be finished by 2030. But the project has already been hit with a delay, with United struggling to buy land near to the site.

According toThe Guardian, the Red Devils need to own a critical site beside the ground currently belonging to freight company Freightliner. United currently value the land at around £40m to £50m but Freightliner instead have an asking price of closer to £400m.

The disagreement has led to an impasse, with the difference in valuation delaying the plans for the new stadium for now. Manchester mayor Andy Burnham previously confirmed that no public funding would be used in the building of the stadium itself.

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But the government has offered their backing to the project, including the regeneration of the local area. A statement from Chancellor of the Exchequer Rachel Reeves earlier this year read: “The Chancellor revealed today that she is championing a regeneration project around Old Trafford in Manchester that will see new housing, commercial and public space as a shining example of the bold pro-development model that will drive growth across the region, with authorities exploring setting up a mayoral development corporation body to redevelop the area."

Unveiling the project back in March, Ratcliffe said: “Today marks the start of an incredibly exciting journey to the delivery of what will be the world’s greatest football stadium, at the centre of a regenerated Old Trafford.

“Our current stadium has served us brilliantly for the past 115 years, but it has fallen behind the best arenas in world sport. By building next to the existing site, we will be able to preserve the essence of Old Trafford, while creating a truly state-of-the-art stadium that transforms the fan experience, only footsteps from our historic home.

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“Just as important is the opportunity for a new stadium to be the catalyst for social and economic renewal of the Old Trafford area, creating jobs and investment, not just during the construction phase, but on a lasting basis when the stadium district is complete.

"The Government has identified infrastructure investment as a strategic priority, particularly in the north of England, and we are proud to be supporting that mission with this project of national, as well as local, significance.”

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