According to BBC reports, although there are many discussions behind the scenes about Manchester United's new stadium plan, the two core issues of land and funding are still unresolved.
The first is the land issue. Reports claim that the club has yet to reach an agreement to purchase land adjacent to Old Trafford that is proposed for a new stadium. While chief operating officer Colette Roach is "confident" a deal can be struck, neither design nor planning permission can move forward until a price is finalized.
The second issue is funding, which is also the most complex obstacle. The new stadium is initially estimated to cost £2 billion. The key "material" disclosed in the article is that the Glazer family is not expected to contribute money; and Ratcliffe is considered "unlikely" to pay.
At the same time, Manchester United currently has a combined debt of approximately 1 billion pounds. In a global high interest rate environment, adding more borrowing on top of the huge debt "seems unlikely".
Therefore, the report pointed out that the "more likely" financing solution is to arrange funds through an "independent company that effectively owns the stadium." Under this model, the stadium would be separated from the club until the debt was paid off.
The confidence of this financing model is that the new stadium with a planned capacity of 100,000 will bring huge revenue. The club has recently sent fans "indicative prices" for corporate packages, "which in many cases amount to thousands of pounds".
However, the article also pointed out that this model relies on Manchester United having to have an "excellent team" in order to sell high-priced tickets, and building a team requires "more money" and "success is not guaranteed."