New Control Tower
I think it was 1962 when the Tower became operational and it then replaced the earlier RAF tower. It was all quite new when I first went to Manchester in November 1965 to do approach radar training - (Cossor ACR 6 radar and a Marconi 264 in those days - both primary only).
Given the huge extension of Manchester Airport in the early 2000s it probably does need a new Tower which ought to be located on a more secure site away from terminal buildings and offices. Logic would dictate that the most likely site would be found on the west side. However, there is almost certainly no location which would give the controllers 100% visibility of all parts of the airfield.
I don't know how any new tower would be funded but Manchester Airport is not owned now just by Manchester City Council. All the Greater Manchester Metropolitan Boroughs have a stake in it. However, there is little doubt that some are keen to take money out but put little back in!