Manchester United

The Red Devils have spent the last 115 years at Old Trafford, one of the most iconic football stadiums in England which currently holds almost 74,000 spectators.

However, criticism of Old Trafford - which has not had significant development since 2006 - has grown in recent years, with multiple issues emerging including leaks from the roof of the Sir Bobby Charlton Stand.

A survey carried out by Man United last year found that 52% of the club's supporters asked were in favour of building a new stadium from scratch, while 31% preferred redevelopment.

Now, Man United have announced that they have "thrown its support behind the Government's growth agenda by announcing its intention to pursue a new 100,000-seater stadium as the centrepiece of the regeneration of the Old Trafford area".

Their new stadium is expected to be built on club-owned land adjacent to Old Trafford, and United will continue to play at the Theatre of Dreams until the new stadium is ready, with architect Lord Norman Foster saying it will take five years to construct.

Ratcliffe plans to build the "world's greatest football stadium"

Man United have now released the first images of their uniquely designed £2bn stadium, and they claim it will have "the potential to deliver an additional £7.3bn per year to the UK economy which brings large-scale social and economic benefits to the community and wider region, including the possible creation of 92,000 new jobs, more than 17,000 new homes as well as driving an additional 1.8 million visitors annually."

"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," Man United co-owner Sir Jim Ratcliffe told the club's official website.

"Our current stadium has served us brilliantly for the past 115 years, but it has fallen behind the best arenas in world sport. By building next to the existing site, we will be able to preserve the essence of Old Trafford, while creating a truly state-of-the-art stadium that transforms the fan experience, only footsteps from our historic home.

"Just as important is the opportunity for a new stadium to be the catalyst for social and economic renewal of the Old Trafford area, creating jobs and investment, not just during the construction phase, but on a lasting basis when the stadium district is complete.

"The Government has identified infrastructure investment as a strategic priority, particularly in the north of England, and we are proud to be supporting that mission with this project of national, as well as local, significance."

Man United's chief executive Omar Berrada said: "Our long-term objective as a club is to have the world's best football team playing in the world's best stadium. We are grateful for the feasibility work done by the Old Trafford Regeneration Task Force exploring options for the future of Old Trafford.

"We have carefully considered its findings, together with the views of thousands of fans and local residents and concluded that a new stadium is the right way forward for Manchester United and our surrounding community. We will now embark on further consultation to ensure that fans and residents continue to be heard as we move towards final decisions."

Architect Lord Foster, founder and executive chairman of Foster + Partners, added: "This has to be one of the most exciting projects in the world today, with incredible regional and national significance. It all starts with the fans' experience, bringing them closer than ever to the pitch and acoustically cultivating a huge roar.

"The stadium is contained by a vast umbrella, harvesting energy and rainwater, and sheltering a new public plaza that is twice the size of Trafalgar Square. The outward-looking stadium will be the beating heart of a new sustainable district, which is completely walkable, served by public transport, and endowed by nature. It is a mixed-use miniature city of the future - driving a new wave of growth and creating a global destination that Mancunians can be proud of."

Man United icon Sir Alex Ferguson, who spent 26 legendary years in charge of the club at Old Trafford, has also shared his views on the new stadium, adding: "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.

"Old Trafford holds so many special memories for me personally, but we must be brave and seize this opportunity to build a new home, fit for the future, where new history can be made."

How can Man Utd afford to build new stadium amid financial troubles?

As exciting as it is for Man United fans to see images of their new home, questions on how the club will finance the cost of the "world's greatest football stadium" are still to be answered.

Less than 24 hours ago, Ratcliffe discussed in multiple interviews how dire Man United's financial situation has become, admitting the club would have "run out of cash by the end of this year" without the controversial redundancies made.

Financing the new stadium was one of the key considerations of the Old Trafford Regeneration Task Force, and an array of possible private funding sources have been explored, while there could be opportunities for a public-private partnership to power the regeneration of the area.

Written by

Oliver Thomas