Manchester United CEO warns new stadium could impact squad spending
What's the story
Manchester United's Chief Executive Officer Omar Berrada has raised concerns that the club's investment in a new stadium could impact its spending on players.
The club plans to build a £2 billion ($2.58 billion) stadium as part of an infrastructure upgrade project.
However, Berrada cautioned that this major investment could affect their competitiveness for as long as five years.
Here's more.
Balancing act
Berrada emphasizes the need to balance investment and competitiveness
Berrada stressed on the importance of balancing infrastructure investments with on-field ambitions.
"That is a risk. Clearly, it's something we want to avoid," he told reporters on Tuesday at the unveiling of conceptual images of the new stadium.
The CEO further said they don't want their ability to invest in the team inhibited while building a new stadium.
Manchester United currently sit 14th in the Premier League table after finishing eighth last season, underlining their need for improved competitiveness.
Stadium details
Manchester United unveil plans for new stadium
As part of its £2 billion ($2.58 billion) investment in infrastructure upgrades, Manchester United has unveiled plans to build a new 100,000-seat stadium.
The club's co-owner Jim Ratcliffe described the project as "the world's greatest football stadium."
The ambitious plan comes after Ratcliffe's desire for a state-of-the-art "Wembley of the north" since his minority ownership in February last year.
The existing Old Trafford has been Manchester United's home since 1910.
Design details
Foster + Partners to design new stadium
As part of its regeneration project, the club has hired architectural firm Foster + Partners to develop a masterplan for the area surrounding Old Trafford.
Norman Foster, the firm's executive chairman, called it "one of the most exciting projects in the world today."
He said this project will enhance fans' experience by bringing them closer than ever to the pitch while acoustically cultivating a huge roar.
Regeneration project
New stadium plans part of wider regeneration project
The new stadium is part of a larger regeneration project for the Old Trafford area, which has been backed by the government.
The British finance minister Rachel Reeves recently endorsed the plans.
Manchester United claim that this initiative could create as many as 92,000 new jobs and result in the construction of 17,000 homes.
It is also expected to add another £7.3 billion/year to the British economy.
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