The famous English football club says the new venue will be the centrepiece in the regeneration of the Old Trafford area.
Manchester United plan to build a new two billion pound ($2.59 billion) 100,000-seat stadium that will be the biggest in Britain, next to the existing Old Trafford, the club announced.
“Today marks the start of an incredibly exciting journey to the delivery of what will be the world’s greatest football stadium, at the centre of a regenerated Old Trafford,” United co-owner Jim Ratcliffe said in a statement on Tuesday.
The British billionaire had been open about his desire for a new, state-of-the art ground since he became a minority owner in February last year, and the club have been studying whether to redevelop the existing stadium, which has been the club’s home since 1910, or build a new one.
The club unveiled architectural designs for the new stadium at an event in London.
The stadium will be part of a wider regeneration of the Old Trafford area, with British finance minister Rachel Reeves recently giving government backing for the plans.
United say the project could create as many as 92,000 new jobs and will lead to the construction of 17,000 homes, and will be worth an additional 7.3 billion pound ($9.44 billion) per year to the British economy.
Old Trafford has not had any major redevelopment since 2006 and criticism of the 74,140-seat stadium, England’s biggest club ground, has grown in recent years, with issues around its leaking roof and recent rodent sightings.
