Man United warned ‘unrealistic’ 100,000-seat stadium project is still a while away

Manchester United’s bold plan to build a 100,000-seater stadium is still a long way off. That’s the view of football finance expert Stefan Borson, who has cast an expert eye over the club’s cash flow. The Red Devils revealed plans to build the biggest sporting arena in the UK just 350 metres away from Old Trafford in time for the 2035 Women’s World Cup , which is being staged in England, Scotland, Wales and Northern Ireland. The plans to construct a ‘Wembley of the North’ have been estimated to cost around £2billion with wider regeneration of the area also scheduled. In June, the club spent £63.5million acquiring a 25-acre site to allow the team to continue playing at Old Trafford whilst construction was underway. But while United chiefs appear confident that the plans will be successfully carried out, Borson has taken a more reserved view on the project. Speaking on White and Jordan on Tuesday, Borson revealed that the club’s owners, the Glazers, are considering selling the club . And that could mean that any stadium plans may now fall into the hands of any prospective buyer. Borson: Man United stadium plans are unlikely “I’ve said for a while, the level of equity required, i.e. the investment from the shareholders required to even get close to building a project of that scale seems to me unrealistic,” Borson said. “With the Glazers being happy to now exit, maybe, and INEOS’ own challenges, we’ve got interest rates going up, not down. “The inflation risk around the world is still high, so therefore the risk of capital to build a stadium is higher than it’s been probably for the last 15 years. “So how do they get to the point where they can raise £2-3billion to build a stadium of 100,000?” Borson then revealed the financial reasons why clubs generally opt against building stadiums that exceed 80,000 spectators. “There’s a reason why there’s so few 100,000 stadiums in the world, because that last 20,000 seats is extremely expensive to do,” he added. “Most people build to 70 or 80,000 because the return you get from that incremental 20,000 isn’t there. “Now United already have 75,000 but obviously it needs development . “I suspect this will be a project that will be nicely left for the next buyer in a similar way to how it will be left at Chelsea again because of similar drivers about cost.” United’s revenue streams will also play a key role in the stadium rebuild. Michael Carrick ’s side can ill-afford missing out on the riches of the Champions League having made their return to the competition this season. United sit in a play-off spot in the League Phase table but have been on the receiving end of a defeat against Atletico Madrid and a thumping 4-1 loss at Italian minnows Como . The Red Devils sit 18th in the Premier League table and require a quick turnaround if they are to be in contention for next season’s Champions League. Fans were seen holding a banner reading ‘We don’t want a new stadium, we want new owners’ during Sunday’s 4-4 draw against Aston Villa . The sentiment shows an ongoing disconnect between the fans and the ownership.