Manchester: Manchester United have announced plans for a new 100,000-seater stadium that co-owner Jim Ratcliffe said would be the “world’s greatest” football ground. The Premier League club has been considering whether to redevelop their Old Trafford home or build a new stadium in the same area, working alongside the Old Trafford Regeneration Task Force.

According to Oman News Agency, 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” as they support the Government’s growth agenda. Scaled models and conceptual images for how the new Old Trafford and surrounding area could look were revealed this morning at the London headquarters of architects Foster + Partners, appointed in September to design the stadium district.

Jim Ratcliffe expressed that “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.” He emphasized that their current stadium, while having served brilliantly for the past 115 years, has fallen behind the best arenas in world sport. By building next to the existing site, the essence of Old Trafford will be preserved, while creating a state-of-the-art stadium that transforms the fan experience only footsteps from their historic home.

The move to a new ground has received backing from former United boss Sir Alex Ferguson who stated that “Manchester United should always strive for the best in everything it does, on and off the pitch, and that includes the stadium we play in.” Ferguson acknowledged the special memories Old Trafford holds but indicated that it is crucial to seize this opportunity to build a new home, fit for the future, where new history can be made.

United estimate the stadium and wider regeneration project has the potential to add an extra £7.3 billion (USD9.44 billion) each year to the UK economy, with the possibility to create more than 17,000 homes and 92,000 jobs.