I think you missed the point inogen was making. His point was Old Trafford needs works doing beyond expanding the South Stand something that there's no evidence to suggest will happen anytime soon either. He's basically saying that should Utd carry out that work it won't bring in any extra revenue which isn't entirely true - if Utd carried out those works then I'm sure they'd upgrade facilities which would bring in more revenue, if not the same levels that an expansion would bring about.
Matchday revenue is quickly becoming irrelevant anyway. The key areas of revenue are TV and commercial revenue and the reason why Utd have gone from having the highest revenue in Europe to potentially 5th this season and likely even lower from next season is because of missing out on the CL and their commercial revenue no longer growing which is again linked to performance.
Yeah, what I’m saying is Rate Of Return on stadium investment at OT will be significantly less than the ROR on other stadiums that haven’t been developed to the extent OT has. And to some extent the success they got from the development in the 90s was a mortgage on their future. Now there’s redevelopment required at cost that is as far as revenue increase goes dead money.
Stadium development like everything is cyclical.
Man Utd fans have spent the last 20 years thinking it was a never ending pot. They’re about to learn, like other clubs that money doesn’t just make itself.
There’s no cheap money to borrow to build anything that doesn’t give a ROR.
arsenal haven’t really capitalised on the emirates, because as you suggest, it’s not really about bums on seats, it’s about match day revenue, be that from tv or 247 merchandising and frankly the Emirates inspires neither.