Former Manchester United midfielder Paul Scholes has shared his concerns over Sir Jim Ratcliffe’s aspirations to knock down Old Trafford and construct a new 100,000-capacity stadium
Paul Scholes has voiced his concerns over Manchester United’s financial approach, suggesting the club is almost “begging” for funds. The Red Devils recently unveiled ambitious plans to construct a new 100,000-seater stadium, sparking widespread speculation about the monetary backing for such a huge undertaking.
The announcement came on the heels of Sir Jim Ratcliffe’s in-depth interview with ex-club captain Gary Neville, where topics ranged from player recruitment to the club’s hefty wage bill and their widespread redundancies. Speaking on The Overlap Fan Debate, Scholes expressed skepticism regarding Ratcliffe’s funding strategy for the project.
“You can be gullible at times, and believe what he [Sir Jim Ratcliffe] 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.”
While the exact cost of the new stadium remains unconfirmed, the Manchester Evening News has previously cited estimates around £2bn. The club has assured that no public funds will be allocated for the stadium’s construction.
Earlier this year, Chancellor Rachel Reeves unveiled the government’s backing for the Old Trafford initiative but kept quiet on the details, with ministers subsequently confirming they won’t chip in. Yet, reports suggest United are convinced that the stadium and its broader regeneration efforts — keystones of the Government’s growth plans — will add a hefty £7.3bn annually to the UK economy.
This boost is anticipated through the creation of up to 92,000 new roles, over 17,000 residential units, and drawing an additional 1.8 million tourists each year. The Manchester Evening News believes that governmental aid may manifest as housing development grants for the neighbourhood.
The upcoming transformation of Old Trafford’s vicinity has elicited a variety of responses, given United’s ambitious new plans. Masterminded by the creative minds at Foster and Partners, the proposed design includes an innovative umbrella-style arena and a colossal public square “twice the size of Trafalgar Square”.
Characterised by three towering masts, referred to as “the trident” by the architects, the structures stand at 200 metres tall and would be visible from 25 miles away. Renderings even hint at the venue hosting concerts and other events within its sweeping public spaces.
“Today marks the start of an incredibly exciting journey to the delivery of what will be the world’s greatest stadium,” Ratcliffe said at the announcement.
“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.”
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