The area around Manchester City Football Club will be regenerated in a deal between the club, Manchester City Council and New East Manchester believed to be worth up to £1bn.
The partners control some 200 acres of land in total. The first priority will be to improve the ‘Sportcity’ site with new facilities for both match days and non-match days for local residents. New football facilities are also likely.
Leader of Manchester City Council, Sir Richard Leese, said: “The collective strength of the Council and the Club, two very ambitious partners, will be the engine of economic growth and will build on the regeneration work already in evidence in the area.
“From the securing of the Metrolink tram system to the building of world class sporting facilities in and around Sportcity, there has already been real vision in creating a sustainable future for east Manchester.
“The City of Manchester Stadium has also been a credit to the city and this further investment will enable local people who can work to work, will give our young people the best possible start in life and will make east Manchester a place in which to work, invest, live and visit,” he said.
In the longer-term, the area will be used for major commercial development, which should in turn help regenerate east Manchester.
Chief Executive Officer of Manchester City FC, Garry Cook said, “Manchester City has been and always will be at the heart of the community it serves in the City of Manchester. The longer term considerations for the area reflect the long term commitment of our owners to the club and the community it serves.”