Stefan Borson: Man United report 'isn't worth the PDF it's written on' after £7bn+ claim

03/25/2025 05:00 PM

Manchester United have announced plans to build a 100,000-seater stadium as part of the government's regeneration of the Old Trafford area. 

Man United's expert task force – which includes Manchester mayor Andy Burnham and ex-defender Gary Neville – recommended the new development over the prospect of improving the club's existing home.

Sir Jim Ratcliffe has insisted he wants the new stadium to be the "world's greatest" and potentially be completed within five years. 

A report by independent advisory firm Oxford Economics has suggested the project could deliver an additional £7.3billion per year to the UK economy.

Former Man City financial adviser Stefan Borson exclusively told Football Insider the report "isn't worth the PDF it's written on" after analysing the figures provided.

United's new stadium could cost around £3billion due to the interest costs they will incur during the build process. 

Man United want 25,000 extra international visitors

Borson insisted the £7.3billion claim is based around 25,000 extra international visitors flying in for United home games once the new stadium is built. 

He told Football Insider: "I did look in quite some detail at the report behind the £7.3billion.

"It looked pretty flimsy to me in terms of the assumptions that were made in that report. I suspect that £7.3billion is not really worth the PDF that it’s written on.

"We should just think about some simpler assumptions in terms of what it might be worth, what it might be worth to United and what it might be worth to the Manchester economy, and also not look so much at what the gross number is because there’s a lot of duplication and overlap.

"For example, I think quite a lot of the assumptions and the base numbers made are from United’s own numbers there. They talk about having 2.3 million visitors to Manchester for the 2023-24 season. 

"But actually, when you break that down, that’s not 2.3 million unique individuals coming to Manchester for Manchester United.

"In all likelihood, it’s much less than that because the vast majority of that 2.3 million of visits are from 55,000 season ticket holders and 5,000 corporate members that are coming every single game.

"They are coming for 25 games per season, so it's 60,000 times 25, which is about 1.5 million visits of the 2.3 millions are from a 60,000 core.

"The reality when you get down to it, when you look at the numbers and £7.3billion, really what it’s saying is with the 25,000 extra seats that we have in a new stadium, can we sell the vast majority of those 25,000 seats to international visitors?

"An international visitor is obviously worth loads more to the British economy and to the economy of Manchester than somebody that’s coming from Altrincham or Sale, where they’re coming in a 15-minute drive to Trafford. They already live in Trafford and they’re spending their money in Trafford. 

"That is not the same revenue or GDP generator as 25,000 people flying in from wherever, staying one or two nights in Manchester, spending on a hotel, breakfast and lunch. 

"The £7.3billion is largely about international visitors and the assumption they use in that report is something like doubling the number of international visitors to Manchester to see Manchester United.

"Now, we don’t know whether that’s reasonable or not, maybe it is. I don’t even know whether Manchester Airport could accommodate that increase, but that’s what’s there. I would take it all with a huge pinch of salt in terms of the £7.3billion." 

Man United season ticket prices to skyrocket

Football Insider revealed on 19 March United's season ticket prices could skyrocket ahead of the club's move to their new stadium.

The Premier League side confirmed last week the majority of their season ticket prices will increase by about 5 per cent for next season after they were previously frozen for 11 years up until 2022. 

Newcastle United and Arsenal have revealed their season ticket prices will also rise by up to 5 per cent, while Liverpool, Tottenham, West Ham and Brentford have frozen their prices for the 2025-26 campaign.

For more Man United and exclusive news, follow us on Facebook or join our brand new WhatsApp Channel for instant updates to be sent straight to your phone.

The post Stefan Borson: Man United report 'isn't worth the PDF it's written on' after £7bn+ claim appeared first on Football Insider.