Enormous impact of Manchester United's planned Old Trafford revamp revealed

Manchester United's proposed regeneration of their Old Trafford home - and the surrounding Trafford Park plans - could boost the UK economy by billions, according to a global advisory firm. The Red Devils are currently considering their options over whether to regenerate the famous old stadium or demolish it and build a new arena.

Ambitions to redevelop the stadium alongside a 'mixed use' neighbourhood featuring apartment blocks, shopping centres, and new public transport stations were unveiled on Monday.

United said an economic report by Oxford Economics commissioned to explore the benefits of a 'world-class 100,000-seater stadium' as part of a regenerated Trafford Park has found the project could deliver an additional £7.3 billion per year to the UK's economy.

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United unveiled further details about the project at the Labour Party Conference in Liverpool. Oxford Economics, who were commissioned by the club to investigate the economic feasibility of the project, outlined what they believe will be its enormous impact.

The firm found the project, which is being spearheaded by billionaire Ineos chief Sir Jim Ratcliffe, could also deliver 92,000 new jobs, more than 17,000 new homes and an extra 1.8million visitors per year.

The club said: "The initial findings are based on a range of potential development opportunities in the Old Trafford area, including a 100,000-seater world-class stadium, plus new mixed-use developments around the stadium and in the adjacent Trafford Wharfside area, which will benefit the local community, attract new residents, increase job provision, and make it a vibrant destination for visitors from Manchester, the UK