Manchester United want to build a brand new 100,000-capacity stadium to replace Old Trafford and will announce their plans by the end of the year.

The £2billion project could be completed by 2030, eclipsing Wembley as the biggest stadium in the country and making it the second largest in Europe behind Barcelona’s revamped 105,000-seater Nou Camp.

United must still make a final decision over whether to rebuild or redevelop Old Trafford, but it has been clear for some time that they share the vision of co-owner Sir Jim Ratcliffe to bulldoze their home of 114 years and create a new state-of-the-art stadium on adjacent land.

The club cannot afford to pay for it on their own, even with the backing of Ratcliffe and majority owners the Glazer family. Selling the naming rights is being considered, although United insist that fans will be consulted over that process.

The club are looking at public-private funding opportunities for the new stadium and wider regeneration of the area around Old Trafford, known as the Stadium District, on land owned by the club.

Man United want to build a brand new 100,000-capacity stadium to replace Old Trafford

New Prime Minister Sir Keir Starmer has already indicated that he would be open to conversations about government support for transport links.

United appreciate the cost of rebuilding Old Trafford could rise above £2bn - as was the case with Real Madrid’s £2.4bn redevelopment of the Bernabeu - but the commercial benefits of a new stadium are huge compared to improving the existing one at a cost of around £1.1bn.

It would also allow the team to keep playing at Old Trafford while the new stadium is built next door, minimising the disruption to fans and ensuring that United continue to generate the revenue from 75,000 sell-out crowds.

United have canvassed 30,000 fans over their preference, with the vote said to be around 50-50. Ratcliffe wants a decision by the end of the year but it’s understood that the Old Trafford taskforce, which has met four times so far under the leadership of Lord Coe, is focussing largely on building a new stadium.

Club bosses recognise the importance of safeguarding Old Trafford’s status as the biggest club ground in the country for years to come. It would also overshadow the 90,000-seater national stadium to become what Ratcliffe has described as the ‘Wembley of the North’.

There is an appreciation that the new design must capture the essence of the current stadium and be true to Manchester’s industrial heritage. During the fourth meeting of the task force last week, former United defender Gary Neville is said to have been particularly vocal about how the new Old Trafford would look.

The discussions came to light after United played Arsenal at the spectacular SoFi Stadium in Los Angeles at the weekend on their summer tour of the US.

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Manchester United owner Sir Jim Ratcliffe wants Old Trafford to become the 'Wembley of the North' in bold £2bn project funded in part by taxpayers

The £2.3bn arena was paid for by Arsenal and LA Rams owner Stan Kroenke, who splashed out another £2bn to develop the surrounding Hollywood Park area.

The roof of the stadium is a giant LED screen visible to planes landing at nearby LAX airport, making it what has been described as the ‘biggest advertising opportunity in the world’.

The entire project took six years from the initial meetings to construction being completed in 2020, and United anticipate a similar timeframe in terms of making a decision and securing funding and planning permission.

They have held a number of meetings with the team behind the SoFi development, as well as visiting Wembley and Tottenham’s new stadium. Chief operating officer Collette Roche also visited the Bernabeu earlier this year to learn more about Real Madrid’s redevelopment project.

Even so, it’s understood that United would not want the new Old Trafford to look too futuristic. The club have appointed Populous, the designers behind the Tottenham Hotspur Stadium, to draw up plans for Old Trafford.

It’s still feasible that United will have to downgrade the project and redevelop the stadium if funding is not available, but that remains their second choice.

The work would probably have to be carried out in stages over a longer period of time, and there is the long-standing problem of having to rebuild the Sir Bobby Charlton Stand around a railway line that runs behind it.

Redevelopment could lead to the capacity being cut significantly by up to 35,000, or mean that United couldn’t play at Old Trafford at all. If that was the case, there is little appetite at the club to groundshare with Manchester City, Liverpool or Everton.