Manchester United have reportedly hit a deadlock in negotiations amid plans to build a new 100,000-seater stadium.

Their proposed new home, dubbed “the Wembley of the North” by Man Utd co-owner Sir Jim Ratcliffe, is part of what the club call the Old Trafford Regeneration Project.

United have identified land owned by Freightliner which is used as a rail freight terminal, but according to The Guardian talks have stalled over a disagreement in price. Freightliner is reportedly willing to relocate from Trafford Park, but are looking for around £400 million ($531 million) for the land. Man Utd are said to value it between £40-50 million ($53-66 million) creating a massive discrepancy in negotiations.

Ratcliffe set a tentative build date of five years hoping to have the new stadium up and running by 2030. The project, according to the club, would deliver an additional £7.3 billion ($9.69 billion) per year to the U.K. economy. In that, the club estimate 92,000 new jobs, over 17,000 new homes and an increase of tourism of an additional 1.8 million visitors.

“Just as important is the opportunity for a new stadium to be the catalyst for social and economic renewal of the Old Trafford area, creating jobs and investment, not just during the construction phase, but on a lasting basis when the stadium district is complete,” Ratcliffe told the club’s website in March.

“The Government has identified infrastructure investment as a strategic priority, particularly in the north of England, and we are proud to be supporting that mission with this project of national, as well as local, significance.”

Old Trafford, commonly referred to as the Theatre of Dreams, is one of the most iconic sporting venues in the world. Though, the ground has been criticised over the years for a lack of upkeep by the Glazer family.

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This article was originally published on www.si.com as Report: Man Utd’s Ambitious 100,000-Seater Stadium Hits Major Roadblock.

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