LONDON – Manchester United announced plans to build the “world's largest” soccer stadium on Tuesday.
The proposed 100,000-seater arena surpasses Wembley as the largest in the UK.
Under this plan, the 20-time British champions said they will be built next to the iconic Old Trafford Ground.
“Our current stadium has served us beautifully for the last 115 years, but we are behind the best arenas in the world's sport.” Jim Ratcliffe, Parts Owner I said. “By building next to an existing site, we can preserve the essence of Old Trafford and create a truly cutting-edge stadium that transforms the fan experience only footsteps from a historic home.”
United didn't say how much the stadium would cost or reveal the timeline to complete, but architect Norman Foster said it would take five years to work on the building.
British billionaire Ratcliffe paid $1.3 billion on United's first 25% stake last year, making the new stadium one of his priorities.
The possibility of redeveloping Old Trafford, one of football's most iconic stadiums, was considered, but an entirely new construction was a preferred option.
“Today marks the beginning of a very exciting journey to streaming what will become the world's largest soccer stadium,” Ratcliffe said.
United hopes the venue will be part of a wider project to revitalize the surrounding Old Trafford area. The UK government has already expressed support for the project, but details on how to raise funds are unknown.
Wembley is now the UK's largest stadium and with a capacity of 90,000 people, it is home to the English national soccer team.
Twickenham, home to the national rugby team, owns 82,500.
Old Trafford is the country's largest dedicated football stadium with just over 74,000 capabilities, but dates compared to London's Tottenham Hotspur Stadium, which regularly hosts NFL games.
“Our long-term goal as a club is to play the world's best football teams in the world's best stadiums,” said United CEO Omar Bellada.
Manager great Alex Ferguson said the club “must have been taken away and seize this opportunity to build a new home worthy of a future where new history can be created.”
The announcement came a few days later Thousands of United fans marched in protest. Increased ticket prices and continued obstacles on the field to club ownership in the face of cost reductions.
United is a majority owned by the American Glazer family, which owns the NFL's Tampa Bay Buccaneers.
Investing, Ratcliffe vowed to bring the once dominant club back to the top of European football, more than a decade after his last victory in the Premier League.
However, his first year in charge of his football operations was turbulent. United endured the worst season of the Premier League season last year, and on a course that sets new lows this semester, the team is currently struggling with the lower half of the rankings.
