Stefan Borson: This is the ‘big’ stadium issue Man United are facing

Manchester United are still working out how to finance their ambitious plans for the club’s new stadium. 

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

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

Man United have been locked in talks with Freightliner – the haulage company that owns the land required to build the canopy around the stadium – but it is believed progress has been made between the two parties. 

In another potential issue, The Daily Mail reported on 28 October Foster and Partners – the architects for the stadium – are now busy designing the new San Siro, putting the plans in Milan ahead of Man United’s development. 

Man United could be facing £4bn stadium bill

Former Man City financial adviser Stefan Borson exclusively told Football Insider the “big” question Man United are facing is funding the new stadium rather than any delays associated to Fosters and Partners. 

Ratcliffe is considering funding options for the stadium development before getting the project underway. 

Speaking exclusively to Football Insider, Borson said: “I mean, we are a number of years away, but I think it's more a financial thing rather than the time from the architects. 

“Foster and Partners will be able to multitask. It's a very big architectural design firm, and that won't be a block at all. 

“But the question is going to be, and has always been, what does the stadium look like from a financial perspective? How does it work? How does it make sense to spend let's say £2bn, £3bn or £4bn on a replacement stadium that doesn't incrementally increase your revenue anywhere near enough to justify that kind of spend? 

“Now, we'll have to see. It's a big question and there's no clear answer at this stage. I've always been pretty sceptical about the numbers that have been put out there.” 

Man United are already in £1bn worth of debt, with many questioning how they can fund the new stadium project. 

Man United made political move after stadium announcement

Borson insisted Ruben Amorim’s side likely revealed the plans for the development as part of a political move. 

“I've been slightly sceptical as well about why Manchester United have wanted to frame it in this way, so to do a soft launch,” said Borson. 

“I assume it's political more than anything, but obviously it does build expectations in the fan base. It focuses people to talk about it in terms of its lack of progress as it goes through, so I'm sure they had good reason to do it. As I say, I suspect it was to try and leverage some local government involvement. 

“The fact that Foster and Partners are involved in another stadium, I don't think should be seen as anything. It's probably positive. It means that they continue to have a fantastic reputation for major projects, which we know they do. They're involved in all sorts of things all around the world, so there's no surprise there.” 

Man United released their latest accounts for 2024-25 in September, revealing their turnover increased from £661.8million to £666.5m. 

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