Manchester United has recently purchased the land around Old Trafford stadium for 8.2 million pounds. Man U bought the land from SEGRO, an investment and development company, that owns more than 110 businesses in Trafford Park. The deal includes Trafford Gateway, a one-acre piece of land directly accross the stadium; Three Wharfside, a 177,000 sq ft industrial warehouse; and Canalside, an estate of seven industrail units behind Three Wharfside. As of now it is unknown what Man U plans to do with these these areas but according to a club spokesperson, "The stadium is an iconic assest for the club and we feel it is beneficial to invest in the surrouding areas." The deal is seen as a good investment for both parties. By disposing of these small units, SEGRO can now focus on retained assets at Trafford Park; and Man U now has access to more property and land around its stadium for redevelopment.
http://menmedia.co.uk/manchestereveningnews/news/business/s/1461258_manchester-united-pays-82m-for-land-around-old-trafford-stadium
It would be interesting to see what Man U does with this newly acquired land. Maybe one day they will construct a new stadium on it similar to how the New York Yankees moved their stadium right next door. Perhaps Man U will start taking on a CSR strategy and start sustainable projects to improve upon the local infrastructure. Perhaps even build some parks for children. Something like this obviously would improve their image but at the same time is a business strategy a corporation might consider before a football club.
ReplyDeleteAnother idea we thought of was Manchester United possibly building some sort of an olympic village, but a Manchester United village around the current stadium. If this were the case, Manchester United would be looking to construct hotels, bars, shops and other things able to attract and sustain customers and tourists. We discussed in class about the prospects a small village can bring to a stadium in terms of attendance and even alcohol sales, and as this idea is growing in the United States (Patriot Village in Foxborough, Stadium Village in Minneapolis, etc.), it could be an idea slowly moving its way across the pond.
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