Manchester United have announced plans for a new stadium but are yet to start work on their new home.
Back in March, Manchester United revealed plans for a new 100,000-seater stadium to be built on the land next to Old Trafford.
It was claimed that United’s stadium project would begin this year, but fans are yet to see any progress made.
Architect Norman Foster claimed United’s stadium will be built by 2030, but Sir Jim Ratcliffe was warned that it was an extremely ambitious timeline.
Just last month, it was reported that United’s stadium could be delayed, and now it seems Ineos are facing their first major hurdle.
Manchester United new stadium plans
Photo by Ash Donelon/Manchester United via Getty Images
Man United stadium could cost up to £4.2bn
When the plans were first announced, it was said that United’s stadium will cost £2bn to be made, but it seems there will be plenty of additional costs which increase the total price.
According to The Guardian, United have now estimated the cost of the project at £4.2bn.
The unique trident design of the stadium will add to the price, and the tented roof alone is likely to cost £300m.
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Ineos are still yet to source any funding for the project, and United have ruled out the idea of seeking public money.
There are multiple ways Ineos could fund the new stadium, including sponsorship partners, debt or seeking private investment.
Given that United could earn £230m per season in a new stadium, Ineos will be eager to push forward with their plans.
Man United face new £400m stadium delay
The main reason that United’s stadium could face delays is because Ineos are struggling to reach an agreement over a land purchase.
The Guardian explain that United want to buy land currently used as a rail freight terminal near Old Trafford.
Work cannot begin on the project until United purchase the land, but talks with Freightliner, the haulage company that owns and operates the terminal, are deadlocked.
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Freightliner have expressed a willingness to relocate from Trafford Park, but they are demanding £400m for the land, while United value it at around £50m.
A huge £350m gap in negotiations suggests there won’t be an agreement between all parties anytime soon. Work on the stadium will have to be delayed until a deal is struck.