Stadium Land Secured, Generational Project Clears Major Hurdle

Research evidence excerpt

Stadium Land Secured, Generational Project Clears Major Hurdle

USA | Lifestyle & Growth Platforms

Manchester United plc EquityJuneResearch22, 2026

FLASH NOTEStadium Land Secured, Generational Project

RATING BUYClears Major Hurdle

PRICE $22.37^

MANU secured the majority of land needed for its planned 100,000-seat

stadium, acquiring a 25-acre site adjacent to Old Trafford from Blackstone- PRICE TARGET | % TO PT $26.00 | +16%

owned Indurent. This removes the key overhang flagged weeks ago by Lord 52W HIGH-LOW $24.22 - $14.59

Coe, validates execution under the INEOS-led transformation, and reinforces FLOAT (%) | ADV MM (USD) 21.0% | 9.95

our positive view. Paired with strong F3Q momentum, UCL qualification, raised MARKET CAP £2.9B | $3.9B

F'26 guidance, and fresh commercial wins, the long-term value creation story TICKER MANU ^Prior trading day's closing price unless otherwise

is firmly intact. noted. Price: 12/9/22 close

The News. This morning, MANU announced it has secured the majority of land needed to build a

new 100,000-seat stadium adjacent to Old Trafford, marking a significant milestone in the club's

long-term infrastructure vision. The club acquired a 25-acre site located approximately 350 meters

north-west of the current grounds from Indurent, a leading UK industrial property owner and a

Blackstone portfolio company. The new venue is positioned to become the largest sporting arena in

the UK and will serve as the centerpiece of a broader 370-acre Old Trafford regeneration program,

undertaken in close collaboration with Trafford Council and the Old Trafford Regeneration Mayoral

Development Corporation (OTRMDC). The wider scheme is projected to deliver approximately

15,000 new homes, 48,000 local jobs, and add over £7B annually to the UK economy. Additional