Even in the midst of financial and competitive struggles, Manchester United is thinking big—very big. 

Less than three weeks after a meager quarterly report and a little more than two months after its worst Premier League finish, the club is now actively considering the development of a new stadium seating 100,000 and costing at least $2.6 billion. The facility, if constructed, would immediately become the U.K.’s largest, surpassing Wembley Stadium’s 90,000, and it would be aimed in part at advancing European facility standards that often have trailed modern U.S. venues. 

Under the leadership of co-owner Jim Ratcliffe, Manchester United has been operating an “Old Trafford Regeneration Task Force” evaluating whether to renovate its venerable, 114-year-old facility (above) increasingly showing its age or construct a new one. According to multiple reports, that panel is now favoring the new-build option. Such a move is increasingly seen as a much more impactful choice than upgrading Old Trafford, and more formal plans for a new stadium are expected by the end of the year. 

A new Manchester United facility would be built on land adjacent to Old Trafford. Financing, however, remains a question mark. The project would likely involve a mix of public and private financing, but there, too, specifics need to be developed. 

U.S. Influence

During this deliberation process, club staff has been closely studying modern U.S. facilities to learn about design choices, amenities, and development processes. Among those venues is SoFi Stadium in California, the home of the NFL’s Rams and Chargers and where Manchester United lost a friendly to Arsenal on Saturday. Stan Kroenke, owner of the Rams and SoFi Stadium, also owns Arsenal. 

“I don’t draw this comparison lightly, but you can see a parallel with the opportunity back home in Manchester,” said Andy Cole, a former striker for the club who was part of the traveling party for SoFi Stadium match. “Manchester United fans and everyone in the north of England deserves a truly world-class stadium, and SoFi set the standard to aim for. This is the kind of arena the best players in the world want to be playing in, and fans want to be experiencing.”

A new stadium, meanwhile, would additionally be impactful as many entities of European soccer, including the Premier League, experience a growing divide between the economic haves and have-nots. The club’s eighth-place finish last season and the recent quarterly report showing a $91 million net loss and 20% drop in revenues further signaled the risk of Manchester United getting left behind top-tier clubs such as its crosstown rival, Manchester City—winner of the last four and six of the last seven Premier League titles—or Arsenal. 

Manchester United, a dominant club in the 1990s and early 2000s, hasn’t won a Premier League title since 2013. 

The WNBA, together with the NBA, just signed a media-rights deal with partners Disney, NBCUniversal, and Amazon until 2036. However, the next five seasons, including the ongoing campaign, might just be the most important stretch in the history of the WNBA.

The league will receive $200 million per year, or $2.2 billion in total, in the media deal starting in 2026, but part of the contract includes a price reevaluation after the 2028 season, according to CNBC. The three partners did not assign a value for the WNBA when negotiating the broader $77 billion deal with the NBA, and the recommendation of a media-consulting team from Endeavor Group—which owns the WWE and UFC—valued the WNBA at just $125 million per year.

The NBA insisted on more—citing the league’s exponential growth this year upon the arrival of rookies Caitlin Clark (above) and Angel Reese—which led to the $200 million–per-year figure.

Should the sides determine that the WNBA is worth more than its current price, the three partners aren’t required to shell out more dollars, though they will be incentivized in some capacity if they do.

Highs and Lows

The WNBA is in an odd position. 

Women’s college basketball broke barriers when the women’s championship game outdrew the men’s title game by more than four million viewers, and the momentum has successfully transferred to the pro level. 

The rookies’ arrival has driven television viewership, attendance, and merchandise sales for the WNBA, and it could continue as Clark and Reese develop, while current college stars Paige Bueckers and JuJu Watkins will likely bring in sustainable fanfare.

That outlook explains why WNBPA executive director Terri Jackson and women’s basketball legend Cheryl Miller believe this new deal still undervalues the WNBA.

On the other hand, the league has been in a compromised financial position pretty much since its inception in 1996. Whether it’s the fault of the league itself, the NBA, or its partners, those mistakes—which include the shutdown of several franchises—don’t just dissipate after a few years of success, and they could explain why Endeavor valued the league at just 62.5% of what it ultimately received.

The WNBA does have several moves to boost its valuation. It has already confirmed two expansion teams over the next two years: the Golden State Valkyries starting next season and an unnamed team in Toronto in 2026. The league is also set to expand its season from 40 to 44 games starting next year, yet another way to boost revenue.

Momentum is on the side of the WNBA to prove its worth—and even shatter its current valuation—by 2028, but it’s operating from a compromised position and is still banking on positive developments. How it navigates the next five years will determine just how high the league will go.