Manchester United must pay record-breaking £1.5bn to rebuild Old Trafford

Old Trafford is under review (Picture: Getty)

Manchester United will have to pay an eye-watering £1.5billion to rebuild a new stadium on the site of Old Trafford after soaring costs of steel and essential materials.

The Red Devils are exploring ways of revamping their famous home by taking ideas from specialists in construction.

United would ideally like to extend Old Trafford but there are engineering problems, such as the train tracks behind the stadium that make increasing the capacity difficult.

Building on the south stand – known as the Sir Bobby Charlton stand – remains the club’s preference but at a minimum they would like to improve the hospitality features around the Theatre of Dreams to bring it in line with the likes of Manchester City, Tottenham and Arsenal.

United’s south stand is the smallest of the four (Photo by Michael Regan/Getty Images) Photographer: Michael Regan Provider: Getty Images Source: Getty Images Europe

However, the most controversial option is to demolish Old Trafford as we know it and to build a completely new stadium.

Though fans are largely against the idea, it could be the easiest of all options given Old Trafford’s age and the difficulty in building on it.

But, having consulted with a number of firms, United have been informed that they will have to build the most expensive country in Britain if they were to demolish their home.

Spurs paid around £1.1bn to build their fantastic new home, which was around £300m above budget.

But soaring costs in essential materials and steel means United will have to pay substantially more, meaning United would have to take significant loans to build the stadium.

The club are already around £500m in debt, which has been put on the Red Devils from the Glazers’ ownership.

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