GROUND TO A HALT
Man Utd鈥檚 new stadium would be 拢300million cheaper without two features including 鈥榠conic鈥?part of design
Scroll down to find out more about United's financing plans
MANCHESTER UNITED could save 拢300million if they lost two iconic features from their new Old Trafford plans.
Minority co-owner聽Sir Jim Ratcliffe's vision of a聽拢2BILLION 100,000-seater "Wembley of the North" could be subject to a few changes between now and 2030.
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As with all major building projects, costs, plans and deadlines are subject to unpredictable changes.
And United might have to step away from two spectacular features in order to avoid going over budget.
Architects at Foster and Partners, who drew up the project, said the stadium would feature an umbrella design and a new public plaza that is "twice the size of Trafalgar Square".
Three giant towers, inspired by the Red Devils鈥?trident, are set to dominate the skyline and hold up the "umbrella" - a sweeping glass and steel canopy above that will keep fans dry inside and outside what would be Britain鈥檚 biggest stadium.
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It's an impressive concept 鈥?but not necessarily cost-effective.
In fact, dropping the 200metre spires and roof could cut construction costs by up to 拢300 million, according to
And the Old Trafford Regeneration Task Force documents show that constructing such a large eco-friendly roof could be a headache.
That is because United would have to purchase additional land from Freightliner, which own a rail terminal west of the current site.聽
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Although the company plans to relocate near St. Helens, it will likely seek a greater share of profits from the Trafford Wharfside project.
Ratcliffe hopes a new home will help return United to the top of English football.
Paul Scholes feels like Man Utd are 'begging' for money to build new stadium
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While the local area will also experience a regeneration project, creating hundreds of new jobs in the process.
The struggling Premier League club will fund the ground themselves, while the UK government will help support the wider park area around the stadium.
But United, currently 拢1 billion in debt, are yet to say how they plan to pay for the stadium.
The money will be borrowed from the banks but the club currently pay around 拢36million annually to service its debt.
Further loans, especially on unfavourable terms, could place a serious burden on the balance sheet.
At an interest rate of 7.38 per cent 鈥?like the one Everton recently secured 鈥?interest alone on an additional 拢2billion could reach 拢200million a year.
They could also sell the naming rights to the new stadium, which could bring in 拢30-40 million a year.
The new stadium will be built close to where their current home of Old Trafford is situated.
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The famous arena will eventually be knocked down as part of the construction plans.
But the Red Devils will continue to play at Old Trafford while their new stadium is being built.
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