Manchester United plans to build 'the world's greatest football stadium'

Manchester United
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Manchester United is sparing no expense to build a new Old Trafford.

The English Premier League club announced plans Tuesday to build a new 100,000-seat stadium next to its legendary ground with a reported price tag of $2.6 billion.

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Jim Ratcliffe, co-owner of Man United, lauded Old Trafford for serving the club "brilliantly for the past 115 years," but he said the time has come to create "a truly state-of-the-art stadium that transforms the fan experience, only footsteps from our historic home."

“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 press release.

Man United's construction plans will include more than a new home stadium. The club has proposed a "wider regeneration project" that will lead to the creation of 92,000 new jobs and 17,000 new homes.

The new Old Trafford is expected to be a destination for soccer fans all over the world. Man United estimates it would drive an additional 1.8 million visitors annually.

“We have 1 billion people around the world who follow Manchester United," Ratcliffe said. "They will all want to visit this stadium."

Man United will play its games at a temporary home when construction of the new Old Trafford begins. Relocation plans were not announced, but the disassembling of Old Trafford is expected to take 12 months. The club hopes it can play in its brand-new ground in five years.

Old Trafford, with a capacity of 74,000, has been home to Man United since 1910 and has been the site of numerous memorable moments in the club's history, namely 20 first-division titles.

Alex Ferguson, who won 13 Premier League titles with the Red Devils, supports the club's stadium project.

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

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