Ahead of the Game: Treasury cost-cutting to hit Manchester United £2bn stadium plans
Manchester United may have to scale back plans for a new 100,000-seater stadium on the site of Old Trafford because of a lack of government funding.
Sources with knowledge of the £2bn project have told City PM that government money will be required to pull off the most ambitious of several proposals that are being developed by the club.
United are highly unlikely to get a handout however following the government’s discovery last week of a £22bn black hole in the nation’s finances.
New Chancellor Rachel Reeves has already implemented a major cost-cutting programme, with winter fuel payments scrapped for millions of pensioners and road and railway-building plans cancelled.
Significant tax rises are also expected in the autumn so investing tens of millions of pounds to help United rebuild Old Trafford is set to be ruled out.
United co-owner Sir Jim Ratcliffe first signalled his intention to ask the government for help when revealing his desire to build a “Wembley of the North” in February.
The billionaire Ineos founder has recruited several Labour heavy hitters to his Old Trafford Regeneration Task Force to aid with lobbying, including Mayor of Greater Manchester Andy Burnham and vocal supporter Gary Neville, but is set to be disappointed.
Without government backing United will have to look at other options beyond the 100,000-capacity stadium designed by architects Populous. These include a rebuild of the current ground, which has already been expanded significantly since it was first built in 1910.
Redeveloping Old Trafford would be far cheaper at around £1bn, but could take up to six years during which time matchday capacity would be reduced from 74,000 to around 50,000.
United sources said that conversations remained ongoing with all stakeholders. The club are hoping to make a final decision by the end of the year.
English cricket woos NBA stars with Hundred stakes
English cricket chiefs are considering offering NBA stars small stakes in Hundred franchises for nominal amounts in an attempt to bring added glitz and glamour to the competition.
City PM has learned that representatives of the Raine Group, who are handling the Hundred sale process on behalf of the ECB, attended last month’s NBA Summer League in Las Vegas where they held meetings with several players’ agents.
Security endorsement with minimal investment from US sports stars is a strategy that has been successfully employed by several football clubs, with American golfers Jordan Spieth and Justin Thomas buying a small number of shares in Leeds, Tom Brady investing in Birmingham City and former NFL star JJ Watt taking a stake in Burnley.
The size of these shareholdings has never been revealed, but they have helped the clubs raise their profile, leading the Raine Group to consider a similar approach.
Ambani family spearheading India’s bid for 2036 Olympics
India is preparing to bid to stage the 2036 Olympics by making concerted lobbying efforts, with the Ambani family to the fore.
Fresh from hosting the extraordinarily lavish wedding of her son – attended by Tony Blair and Boris Johnson – Nita Ambani opened the first ever India House in Paris, with guests including Fifa president Gianni Infantino and International Olympic Committee executive board member Kirsty Coventry.
India’s lobbying has been crucial to cricket being included in the 2028 Games in Los Angeles, with the IOC eager to tap into the Asian TV market, which is also expected to be a major factor in the 2036 bidding process. India has yet to formally confirm their intention to make a bid, which is likely to be to stage the Games in Ahmedabad, home of the country’s prime minister Narendra Modi.
Southampton star beats bankruptcy order
Southampton defender Charlie Taylor has had a bankruptcy order lifted following a successful application to the High Court.
The 30-year-old left-back was declared bankrupt while at Burnley last season due to unpaid bills, but it has since been annulled after he demonstrated that the payments had been made.
Taylor joined Southampton on a free transfer from Burnley this summer after settling his debts. The missed payments were the result of an administrative error rather than any serious financial problems or a deliberate attempt to avoid paying.
Sky Sports follows EFL with new £935m deal
Sky Sports will break new ground by broadcasting 36 English Football League matches live this weekend as part of a new TV deal that will see 1059 games from the lower divisions and Carabao Cup televised over the course of the season, although fans watching on the new Sky Sports+ streaming service may find the experience similar to its EFL-run predecessor, iFollow.
While full commentary will be provided for all 36 games only the six matches broadcast on Sky’s main channels will have presentation and punditry teams at the grounds, with the other 30 commentaries done from a remote studio.
As part of the new £935m deal more than half of the EFL’s matches will be televised this season, with every club guaranteed at least 20 live appearances on Sky Sports of Sky Sports+.