Paul Scholes has expressed concerns over Manchester United's financial situation, suggesting a sense of "begging" is going on surrounding the club's monetary affairs. Last week, United unveiled ambitious plans to construct a new 100,000-seater stadium, sparking widespread speculation about funding sources.
This development came on the heels of Sir Jim Ratcliffe's in-depth conversation with former club skipper Gary Neville, where topics ranged from player acquisition to the management of the team's wage bill, as well as his wide-ranging cuts and redundancies. Speaking on The Overlap Fan Debate, Scholes voiced his skepticism regarding Ratcliffe's financing strategy for the project. "You can be gullible at times, and believe what he says, just because you've never heard anyone say anything before," he said.
"You don't know how realistic it is, it's all up in the air. Words are cheap, and we could say anything about anyone, you can say in 10 years we'll have the biggest and best stadium. For a long time, we've been called the richest club in the world, but I feel like we're begging a little, asking for the stadium and that we need £2billion, and selling players to buy players."
The exact cost of the proposed stadium remains undisclosed by the club. However, the Manchester Evening News has reported figures around the £2bn mark. The club has assured that no public funds will be utilised for the stadium's construction.
Following Chancellor Rachel Reeves' earlier announcement that the government would back the Old Trafford project, the specifics of the support remained unclear, with ministers subsequently ruling out direct financial contributions towards the cost. However, it is reported that United are confident that the stadium and broader regeneration initiative, aligned with the Government's growth agenda, has the potential to inject an additional £7.3bn annually into the UK economy.
This is anticipated to be achieved through the creation of up to 92,000 new jobs, the construction of more than 17,000 new homes, and an increase of 1.8m visitors each year. According to the Manchester Evening News, potential support could manifest as funding for new housing developments in the vicinity.
With the prospect of a new stadium, the Old Trafford area is poised for a complete overhaul, but there has been mixed reactions to the club's prospective new home. The architectural firm leading the project, Foster and Partners, has revealed a design featuring an umbrella motif and a public plaza, touted as "twice the size of Trafalgar Square".
Concerts and other events are envisioned to take place at the stadium and within the public plaza, as depicted in the released images. A distinctive element of the design is the inclusion of three masts, referred to as "the trident", which are expected to stand 200 metres high and be visible from a distance of 25 miles.
"Today marks the start of an incredibly exciting journey to the delivery of what will be the world's greatest stadium," Ratcliffe said upon unveiling the plans. "Our current stadium has served us brilliantly for the past 115 years but it has fallen behind the arenas in world sport. I think we may well finish up with the most iconic football stadium in the world."