Lord Coe has heralded a 'defining moment' in Manchester United's ambitious plans to construct a new £2 billion stadium, following a significant advancement for the project on Friday. The formation of the Mayoral Development Corporation, which received official Government approval, marks the launch of a multi-billion-pound masterplan aimed at regenerating the Old Trafford area.
A Vision for Transformation
The newly established MDC will be the driving force behind supporting United's bid to build a state-of-the-art 100,000-seater stadium, a project that minority owner Sir Jim Ratcliffe has ambitiously described as creating the 'Wembley of the North'. This initiative is part of a much broader regeneration scheme covering 370 acres, which promises substantial community and economic benefits.
Economic and Community Impact
The wider regeneration area is set to deliver 15,000 new homes and generate approximately 48,000 new jobs locally, with over 90,000 jobs expected nationally. These developments are projected to contribute more than £7 billion annually to the UK economy, underscoring the project's significant economic potential.
Leadership and Collaboration
Lord Coe, who chairs the MDC and heads United's stadium taskforce, will continue to collaborate closely with the club's chief operating officer, Collette Roche. Both were keynote speakers at an event held at the Imperial War Museum North, where they addressed stakeholders, business leaders, and community members to commemorate this pivotal occasion.
'Today is a defining moment, the beginning of a long-term commitment to transforming the Old Trafford area,' said Coe. 'We are now open for business – and there's a lot to do! Over the next few months we will share our outline masterplan and we will begin to make this vision a reality.'
Political and Regional Support
Greater Manchester Mayor Andy Burnham emphasised the scale of the project, stating: 'The Old Trafford Regeneration scheme represents the biggest sports-led regeneration project since London 2012 – right here in our city region.' He praised the MDC, led by Lord Coe and project director Karen Hirst, for bringing together the necessary expertise and drive to ensure success, highlighting its potential to transform the area with thousands of new homes and provide a massive economic boost to Greater Manchester.
Burnham added: 'Our Mayoral Development Corporations are a proven model of success – which is precisely why we're backing Trafford and other areas across Greater Manchester with the powers to deliver these major regeneration projects.'
Club Ambitions and Gratitude
Collette Roche expressed her honour in representing Manchester United at the launch, stating: 'Our ambition is to build the world’s best football stadium – one worthy of our supporters, our history and our future. We want to create the best matchday atmosphere and experience anywhere in world football, while ensuring the stadium acts as a catalyst for a vibrant new district for fans, residents and visitors.'
She continued: 'Today marks a landmark moment for our club, for Trafford, and for Greater Manchester. We express our thanks to Lord Coe, Mayor Andy Burnham, Trafford Council, GMCA, and all our partners and community representatives for their leadership and collaboration in helping us reach this important milestone.'
