Ineos are working on plans for a new stadium for Manchester United and the desire to rebuild Old Trafford is clear when the finances are added up.
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Ineos want to build a new stadium on the land around Old Trafford
(Image: Matt McNulty/Getty Images.)
Manchester United have fallen from second to fifth for matchday revenue in Europe as a host of top clubs have made up ground thanks to stadium redevelopments.
United brought in £129million in gate revenue in 2024 but the dial has barely moved for the money they have made out of Old Trafford since 2009, while the majority of top clubs have seen their revenue double in that time.
That has not only seen United fall to fifth in European clubs, but the gap they had on their rivals has been eroded, which helps explain the competitive advantage they had that has ebbed away.
UEFA's Club Finance and Investment Landscape report reveals United only made an extra £1million in 2024 compared to 15 years previously. They made £119million in 2014 and £107million in 2019.
In contrast, some of their rival clubs have seen a huge jump in gate receipts. Arsenal is now the top-performing Premier League club, making £153million in 2024, an increase of more than £30million.
Tottenham have gone from making £33million a season from matchday revenue to £123million, which shows the advantages of a new-build stadium. Liverpool redeveloped Anfield and have seen their gate income rise from £50million to £108million, while Manchester City was at £89million, up from £18million 15 years ago.
The report states: "New stadiums have multiplied gate revenues at Tottenham, Juventus, Atlético and Galatasaray since 2009. Stadium expansions and/or increases in premium seating and hospitality have also doubled gate revenues at Paris Saint-Germain, FC Bayern, Liverpool and Manchester City across the 15-year period.
"In contrast, Chelsea and Manchester United, without major stadium changes, have dropped from 2nd and 5th to 5th and 10th."
It helps explain why new stadiums or the redevelopment of existing grounds is a high priority for ownership groups at Stamford Bridge and Old Trafford.
Sir Jim Ratcliffe launched the Old Trafford Regeneration Task Force to examine plans for the stadium. Ratcliffe has made it clear that his priority is to build a new stadium on the club's existing land and the task force completed its initial feasibility work in January and recommended a new stadium as the best option.
"The vision is for Manchester United to develop a world-class stadium, acting as a catalyst for wider regeneration of a re-energised Trafford Park, which initial findings suggest could deliver an extra £7.3bn gross value added to the UK economy and more than 90,000 employment opportunities," they said.
"The Task Force determined that a redeveloped Old Trafford could increase the capacity of the existing stadium to 87,000, whereas a new-build stadium would allow capacity to reach 100,000. Both options remain under consideration, with the club set to decide on the preferred approach ahead of the summer."
The challenge for Ineos is to fund a £2billion project to build that 100,000-seater stadium, but the UEFA report shows why this remains a top priority for United's new minority owners, potentially unlocking a route to returning to the top of the table for matchday revenue in Europe.