Man Utd drop update on new 100,000-seater Old Trafford with £2bn plans in motion

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Manchester United provided a brief update on their plans to construct a new 100,000-seater stadium when the club's latest financial figures were published. On Wednesday, United unveiled their third-quarter financial results, reporting an operating profit of £37.7million.

This marked a significant turnaround from the £3.2m operating loss recorded during the same period last year, which United attributed to cost-cutting measures and improved performances in the Premier League .

The financial results were widely regarded as a major positive for United, who now have the financial flexibility to invest heavily in the transfer market ahead of Michael Carrick's first full season in charge.

There was also a brief update on the proposed new ground, with United stating: "Work continues behind the scenes on our ambition to build a new 100,000 seater stadium."

Before United can press ahead with their stadium ambitions, they must first secure a deal to acquire the rail yard surrounding Old Trafford. The land is currently owned by Freightliner, and negotiations over an agreement have stalled.

Despite the encouraging third-quarter figures, United remain weighed down by just under £1.3billion of debt, comprising borrowings on a revolving credit facility, legacy debt from the Glazer takeover, and outstanding transfer fees.

Back in August, football finance blogger Swiss Ramble ranked Everton and Tottenham above United in his debt league, though both clubs borrowed to fund the construction of new stadiums. United have estimated that a new Old Trafford would come in at around £2bn.

Sir Jim Ratcliffe initially proposed the idea of taxpayers partially funding the £2bn project, but the suggestion was swiftly rejected by Andy Burnham , with United confirming two months ago that it would be privately financed.

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A United spokesperson said: "Our proposed new stadium will be financed privately, and we continue to have positive conversations with potential investors and all stakeholders."

United will sell Old Trafford's naming rights once their new 100,000-seater stadium is complete. It has been estimated that the club could pocket around £150m through a 10-year naming rights deal for the new ground.

Omar Berrada acknowledged that United could sell the naming rights when he spoke at the unveiling of the new stadium plans.

"At this stage, all the options are open," Berrada said. "We're not closing any doors, so we obviously want the stadium to give us additional revenues for us to be able to invest into the team, and I think that's going to help.

"One of the biggest upsides is to give the best experience to our fans, to be able to accommodate more fans into the stadium. But it is true that the additional revenues will help finance the talent that the fans will see on the pitch."