Manchester United announced this week that they will spend £2 billion to build a new stadium for 100,000 people, but construction industry experts predict that the final cost could spiral out of control, well exceeding the $2 billion budget. By way of comparison, Newcastle United's new stadium is expected to cost £3 billion!
Industry insiders told the Daily Mail that Manchester United's plans have been questioned by the construction industry as a whole, and doubts in particular about the £2 billion cost. Tottenham's Tottenham Stadium opened in 2019 at a cost of £1.1 billion, and that was built before the rising cost of materials.
In addition, due to the current layout of the West Stand at Old Trafford, experts have also raised questions about whether United will be able to build a huge canopy above the new stadium.
Rajue was confident in this, but the British media mocked him for not being able to do it unless he became Harry Hodini, a well-known film special effects artist. There are also critics of Manchester United's owners that the club is about to go bankrupt but still has the money to build the stadium, in response to the British media's revelation that millions of pounds of public funds will be used to start Manchester United's new stadium project, which may trigger protests from British taxpayers.
The Daily Mail also revealed that Manchester United's stadium plans will lead to the relocation of the train station and cargo terminal, with the club paying for the land but not covering the cost of the cargo terminal relocation, which could run into the hundreds of millions of pounds.
The office of Andy Burnham, the mayor of Greater Manchester, defended the use of public funds, saying the plan would kick off a wider programme that would be "the biggest urban regeneration since the 2012 London Olympics". The Greater Manchester Union Authority says the redevelopment of Old Trafford will bring £7.3 billion to the local economy.
A Manchester United spokesperson said the stadium redevelopment would be part of a larger plan and would bring huge benefits, while relocating the train station and easing the resulting traffic congestion would benefit passengers across the north of England. He added that the £2 billion funding for the new stadium would come "from the open market" and was not yet forthcoming.
The £50 million refurbishment of Carrington's training ground was first launched after the acquisition was successful, and according to The Telegraph, the refurbished first-team facilities are expected to be officially operational on 31 July this year in time for next season.
In addition to laying off the club's staff, Lajue also intends to "declare war" on the exorbitant wages of first-team stars. According to The Sun, the owner wants to slash players' salaries. But he can't change the income of his current players, he can only control the players who intend to renew their contracts, or the amount of wages of new signings. According to the plan, Manchester United will reduce the base salary of the players and offer more generous bonuses to motivate them to strive for good results.
A Manchester United insider revealed: "The club is moving towards performance-based contracts and we have discussed this with our agents. Manchester United will still offer competitive salaries, but they do need to control the team's payroll and make sure they get the best value for their money."
This is a reasonable solution, and the problem lies in United's existing wage structure. Among them, captain Bruno Fernandez, who earns more than 300,000 pounds, was signed after the acquisition of Rajue. The 30-year-old was originally paid £240,000 and his contract runs until 2027, but Rajue gave him a salary rise of nearly $100,000, which could become a benchmark for new signings or renewals of existing players.
Negotiations over the renewal of Kobe Maynor, who earns £20,000 a week, are at an impasse because of the income issue, and he wants a salary of 150,000 to 180,000 pounds a week. Similarly, the practice of controlling income could also undermine Manchester United's chances of attracting superstars this summer, such as the introduction of popular centre-forward Osimhen, who is demanding a whopping £400,000 a week! If there is no super high income, the agent of the star player will ask Manchester United why their player should join the troubled Red Devils. Manchester United chief executive Omar Berada has admitted that building a new stadium could lead to the risk of a loss of competitiveness for the first team.