Lord Coe has welcomed a ‘defining moment’ in Manchester United‘s plans to build a new £2billion stadium as part of a wider regeneration of the Old Trafford area after the project took a major step forward on Friday.
The Mayoral Development Corporation, which will be the driving force behind it, has been officially formed following Government approval – signalling the launch of the multi-billion-pound masterplan.
The MDC will support United’s bid to build a new 100,000-seater stadium and create what minority owner Sir Jim Ratcliffe has described as the ‘Wembley of the North’.
The 370-acre wider regeneration area will also benefit from 15,000 new homes, 48,000 new jobs locally, and over 90,000 nationally. The developments are expected to add over £7bn-a-year to the UK economy.
Coe, who has been heading United’s stadium taskforce, is the MDC chair and will continue to work with the club’s chief operating officer Collette Roche on the project.
They were among the keynote speakers who addressed stakeholders, businesspeople and community members at the Imperial War Museum North to mark the occasion.
Lord Coe has welcomed a ‘defining moment’ in Man United’s plans for a new £2bn stadium
United want to build a huge new arena in what has been described as ‘Wembley of the North’
‘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.’
Greater Manchester Mayor Andy Burnham added: ‘The Old Trafford Regeneration scheme represents the biggest sports-led regeneration project since London 2012 – right here in our city region.
‘This new Mayoral Development Corporation, spearheaded by Lord Coe and (MDC project director) Karen Hirst, will bring together the expertise and the drive to make this a success, transform this area with thousands of new homes, and bring a massive economic boost to Greater Manchester.
‘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.’
Roche also welcomed the news, saying: ‘It’s an honour to represent Manchester United at the launch of the Old Trafford Regeneration Mayoral Development Corporation. 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.
‘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.’
