Manchester United's plans to build a new 100,000-seater stadium in Old Trafford have hit yet another setback, with the club no longer in line to receive the government funding they were initially hoping for.
Although Sir Jim Ratcliffe had never expected the stadium itself to be government-funded, the INEOS boss has always maintained that it will be needed for the wider Old Trafford regeneration project.
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According to a report in the i newspaper, the Treasury aren't planning on allocating any funding for the new stadium and the £600m that they have already allocated to Greater Manchester for the 2025=26 financial year will not be increased.
It is reported that Man Utd made a separate bid for funding at the beginning of the year, but there has been no progress on the application as of yet. As things stand, no formal engagement has been made with the football club or Trafford Council.
With the project now unlikely to receive any extra funding from the government, the chances of a settlement with the local freightliner are unlikely. The club need to purchase a freight terminal next to the current stadium to turn their current plans into a reality, but the freightliner is holding out for £400m on a terminal that Man Utd values at just £40m.
According to a recent report, the impasse has forced the stadium architects back to the drawing board. The large canopy that was prominent in the original concept art won't be possible unless the freight terminal is purchased.
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Given that the government are reportedly considering raising income tax in the United Kingdom, they aren't exactly in a position to start handing out money to a football club that positions itself as one of the richest on the planet. Ratcliffe will have to dip into his own pockets to make his dream of a ‘Wembley of the North' a reality.