The iconic Old Trafford Stadium, which currently is the second largest club football stadium in the United Kingdom after the Wembley in London, has served as Manchester United’s home ground for the last 115 years.
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In one of the most significant decisions in English football history, 20-time top-flight champions Manchester United confirmed on Tuesday that they will eventually be moving out of the iconic Old Trafford Stadium in the near future. The Old Trafford has served as United’s home for over a century since hosting its maiden game in 1910, against fierce rivals Liverpool, and is one of the most iconic sports venues in the world.
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United, currently struggling at the 14th spot in the Premier League table, have undergone drastic changes ever since the Jim Ratcliffe-led INEOS group gained control of football operations in February last year.
From mass layoffs at the club and ending free meals for employees to axing legendary manager Alex Ferguson as the club’s ambassador, Ratcliffe’s group has introduced several cost-cutting measures.
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The most significant of the changes since INEOS’ takeover, though, isn’t an austerity measure, but one that will require the club to spend a fortune.
All you need to know about Manchester United’s future home ground
Ratcliffe’s group has promised to build a brand new stadium located close to the Old Trafford that will be the “world’s greatest” football ground. The proposed stadium will have a capacity of 100,000 – more than the 90,000 capacity Wembley Stadium and the 74,310-capacity, which currently are the two largest football stadiums in the United Kingdom.
The new venue will be built on land surrounding the Old Trafford Stadium, and will cost the club £2 billion ($2.6 billion) and is expected to be completed in five years’ time. The landmark decision comes after extensive discussions on whether to renovate their existing home ground, which has fallen into a state of disrepair or to build a new one from scratch.
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“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,” Ratcliffe said in a club statement.
“Our current stadium has served us brilliantly for the past 115 years, but it has fallen behind the best arenas in world sport.”
Once completed, the new stadium is expected to generate an additional £7.3 billion to the UK economy every year and also create possibly up to 92,000 jobs. It will also rank as the second largest football stadium in Europe after Barcelona’s Camp Nou, which is also undergoing renovation and is expected to have a capacity of 105,000 after completion.
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