Jim Ratcliffe, the billionaire co-owner of the soccer club, framed plans for the 100,000-seat venue as crucial to the British government’s plan to revive the northern English city.

Old Trafford has been Man United's home since 1910 but plans are underway for a new-build stadium on the same site.

Manchester United 's Chief Executive Officer Omar Berrada has raised concerns that the club's investment in a new stadium could impact its spending on players. The club plans to build a £2 billion ($2.58 billion) stadium as part of an infrastructure upgrade project.