‘It could cost £4bn’ – Man United hit by new stadium blow after Daniel Levy reveal

Manchester United’s plans for a new stadium are facing a blow after a Daniel Levy reveal as the project could cost up to £4billion. 

Man United have announced plans to build a 100,000-seater stadium as part of the government’s regeneration of the Old Trafford area.

The Premier League side's expert task force – which included Manchester mayor Andy Burnham and ex-defender Gary Neville – recommended the new development over the prospect of improving the club’s existing home. 

Sir Jim Ratcliffe has insisted he wants the new stadium, which the club believe will cost around £2billion, to be the “world’s greatest” and potentially be completed within five years. 

However, Levy suggested those figures may not be realistic after overseeing Tottenham’s construction of their 62,850-capacity stadium, with that project setting the north London club back more than £1billion in 2019. 

Speaking to Neville on The Overlap on 4 August, Levy said: “Let me tell you something, whatever the cost consultants say, when you come to actually build it and because of inflation over time, it will always cost more.” 

The Spurs chairman insisted the Tottenham Hotspur Stadium would now cost more than £2billion to build due to the rise in inflation and construction costs. 

Man United stadium plan 'doesn't make financial sense'

This article contains exclusive comment from Stefan Borson, a former financial adviser to Man City.

Man United are continuing to source funding for their new stadium before getting the project underway. 

Speaking exclusively to Football Insider, Borson said: “I'm very skeptical about how quickly they can do it and what they can do on it. 

“I mean, it's all just so expensive. If you watch the Daniel Levy interview with Gary Neville, almost the only thing that Daniel Levy gave away was a wry smile when he was asked about how much United’s stadium was going to cost, and nobody knows better than Daniel Levy, right? 

“He's the only person that's micromanaged probably an entire stadium build project in England in the last few years. 

“Obviously, Everton have built a stadium, but it's not the same scale as Spurs, and I doubt that it was micromanaged in the way that I think Daniel Levy probably did here, so he knows what he's talking about. 

“You could see the way he was sort of smiling when there was a suggestion that it might only cost £2billion. 

“This United stadium that's being proposed at the moment could easily end up costing £4billion. 

“How on earth can it be funded and how on earth can it make financial sense at £4billion? I mean, it's a complete mystery. 

“I think that whole project is going to be very difficult.” 

Chelsea told to increase Alejandro Garnacho bid by £10m

In terms of a potential exit at Old Trafford, Football Insider revealed on 8 August Chelsea are pushing to agree a deal for Alejandro Garnacho. 

Enzo Maresca’s side are currently willing to pay £40million to land the winger, while Man United are holding out for their £50million valuation if they are to sell. 

Garnacho started in 36 of his 58 outings last season, where he registered 11 goals and 10 assists. 

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