Manchester United's plans to build a new £2 billion stadium have been hit by a major blow, with a £400m demand threatening to delay the project.
- Plan is to construct a 'Wembley of the North'
- Need to acquire land close to Old Trafford
- Deadlock in discussions means possible delays
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WHAT HAPPENED?
The Red Devils are hoping to construct a 100,000-seater venue next to their current Old Trafford home that Sir Jim Ratcliffe wants to see become ‘Wembley of the North’. In order to deliver the full package, United need to acquire land that is used as a rail freight terminal.
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THE BIGGER PICTURE
Talks have been held with Freightliner, the company that owns the terminal, but negotiations are said to be "deadlocked due to a disagreement over the price". Freightliner, who are willing to relocate to St Helens, are reportedly asking for £400m ($531m) – with United valuing the land at £40-50m ($66m).
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WHAT A SOURCE SAID
A source has told that Freightliner "have United over a barrel". While they are happy to move, they are in no rush to do so. It is claimed that "United’s options at this stage would be to increase their offer, wait for Freightliner to lower its demands, or scale back the project so that the freight terminal land is not required".
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DID YOU KNOW?
United have set the ambitious target of having their new stadium built by 2030, with preparatory work being lined up for the end of this year. The disagreement with Freightliner means that start dates will have to be revised.
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