Man United are pushing ahead with plans for a new 100,000-seater stadium after acquiring an important plot of land.
United are being supported at an early stage by Slaughter and May.(Image: Getty Images)
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Manchester United are being supported by law firm Slaughter and May on early-stage construction and procurement aspects of their 100,000-seater stadium. At the start of the week, United announced they had acquired a 25-acre plot of land, allowing plans for their ambitious new stadium to resume.
Slaughter and May advised Everton on the Hill Dickinson Stadium in Liverpool, including construction, financing, real estate and planning. The Toffees' new stadium has been seen as a success, despite concerns from supporters over the lack of transport links.
The firm advised Everton on the redevelopment of Goodison Park, which is now used to host women's games after having its capacity reduced. United are considering their options with Old Trafford.
No broader appointment of any firm has yet been made for the stadium project, given the process is still in its infancy.
Slaughter and May is currently advising Crystal Palace on their stadium redevelopment project at Selhurst Park, including a new 13,500-seat main stand.
The British law firm is headquartered in London, and it's a member of the 'magic circle', a group of leading London-based multinational law firms.
Slaughter and May already has a close relationship with Ineos, having advised Sir Jim Ratcliffe's company on the acquisition of a minority stake in United two years ago. They also advised Ineos on the acquisition of OGC Nice and FC Lausanne-Sport, including rules on multi-club ownership.
The high-profile firm has been used by Arsenal in the past, advising on Stan Kroenke's takeover, player transfers and loan agreements.
Slaughter and May's website reads: "We support our clients by providing the best quality advice on complex, high value and strategic sports law matters. We represent some of the most famous sports clubs, leading governing bodies, corporate organisations as well as individual clients."
United estimated that a new stadium alone would cost £2billion, but an updated estimate in 2026 could double the cost. The club is already saddled with a record debt of £1.3bn.
The project will be financed privately, and "positive conversations" with potential investors and stakeholders are ongoing. United will sell the naming rights of the new stadium to raise capital.
Earlier this year, The Sponsor compiled a European stadium naming fair market value report, which outlined that United could bank around £15m per season, equating to £150m over 10 years.