Manchester United Announce Plans To Build New 100,000-Capacity Stadium Near Old Trafford

Manchester United on Tuesday announced plans to build a new 100,000-capacity stadium close to their historic Old Trafford stadium that co-owner Jim Ratcliffe said would be the "world's greatest" football ground. The momentous decision by the Premier League club comes after an extensive consultation process around whether to develop their creaking current ground or move, in conjunction with the Old Trafford Regeneration Task Force. United have now confirmed their "intention to pursue a new 100,000-seater stadium as the centrepiece of the regeneration of the Old Trafford area".

The club hopes the new stadium, which will cost a reported £2 billion ($2.6 billion) can be finished in five years, though the start date remains uncertain.

Scaled models and conceptual images for how the new stadium and surrounding area could look like were revealed on Tuesday at the London headquarters of architects Foster + Partners, appointed in September to design the stadium district.

"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," Ratcliffe said in a club statement.

"Our current stadium has served us brilliantly for the past 115 years, but it has fallen behind the best arenas in world sport."

United said the stadium and a wider regeneration project had the potential to deliver an additional £7.3 billion per year to the UK economy, including the possible creation of 92,000 new jobs.

"United is the world's favourite football club and the biggest in my opinion and it deserves a stadium befitting of its stature," Ratcliffe said in London on Tuesday.

"It's more challenging to build a stadium of 100,000 but I think the UK