Man Utd's plans for £4.2bn new stadium hit rocks as club refuse to pay asking price for land
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MANCHESTER UNITED'S stadium plans for a new 'Wembley of the North' have hit a stumbling block over a land price dispute.
The new development is facing delays due to a standoff over the price of land around Old Trafford.
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Manchester United are set to build a brand new 100,000-seater stadium
Credit: Foster + Partners
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Sir Jim Ratcliffe wants it to become a 'Wembley of the North'
Credit: Foster + Partners
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But United want to buy the rail freight land around the current Old Trafford ground
Credit: Foster + partners
United want to buy the land currently used as a rail freight terminal to complete their £4.2BILLION regeneration project.
The club's co-owner Sir Jim Ratcliffe claims the project will bring £7.3billion-a-year to the UK economy.
United have held talks with the haulage company that owns and operates the terminal, about purchasing the land.
But, according to The Guardian, the negotiations are deadlocked due to a disagreement over the price.
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While Freightliner is understood to have expressed a willingness to relocate from Trafford Park to nearby St Helens, the company is seeking around £400m for the land.
But the Premier League club think it's TEN TIMES LESS between £40-50million.
When unveiling designs for the Old Trafford master plan, produced by Foster + Partners, in March, Ratcliffe set an ambitious target of completing what he described as a five-year build by 2030.
United had been hoping to begin preparatory building work by the end of this year, but failing to secure the Freightliner site will delay the start date.
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The Red Devils might have to increase their offer, wait for Freightliner to lower its demands, or scale back on the project altogether.
But Greater Manchester's re-elected mayor Andy Burnham could issue a compulsory purchase order, although that would be subject to legal challenges and would lead to further delays.
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Olympic legend Sebastian Coe is the chair of the Old Trafford Mayoral Development Corporation.
A 2030 opening was always an ambitious target given that United still need to obtain planning permission, secure the land and formally appoint architects.
United are not seeking any public money to build the stadium itself, but the the UK government will help support the wider park area around the stadium.
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The government will help fund a redevelopment area around the stadium
Credit: FOSTERS + PARTNERS
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