New minority owner Sir Jim Ratcliffe is reportedly eager to develop a “Wembley of the North” that would rival the 90,000-seat national stadium in London.

Manchester United is planning to build a new stadium on the site of Old Trafford, with an announcement expected by the end of the year.

The club’s top choice is to construct a state-of-the-art, 100,000-seat stadium on land next to Old Trafford, at an estimated cost of around £2 billion, with completion aimed for 2030. An alternative option is to redevelop the existing Old Trafford, though this would involve logistical challenges, such as reducing the stadium’s capacity from 75,000 to about 40,000 during construction, or finding a temporary venue.

United has established the Old Trafford Task Force to evaluate both options. The team has visited various global stadiums, including the Bernabeu, Nou Camp, and the 70,000-capacity SoFi Stadium in Los Angeles, which is considered one of the premier sports venues worldwide. United recently played against Arsenal at SoFi during a pre-season friendly.

Sir Jim Ratcliffe, now overseeing football operations at United, envisions a major redevelopment of Old Trafford that includes enhancing local amenities and creating jobs.

The SoFi project, funded by Arsenal owner Stan Kroenke at a total cost of around £4 billion, transformed its surrounding area into a vibrant neighborhood with a 6,000-seat concert venue, apartments, and hotels.

United aims to use SoFi as a model for their ambitious plans for a new Old Trafford and the surrounding area’s revitalization. The funding for the new stadium would come from a combination of private and public sources, with the Government contributing to improvements in transportation links.

Former United striker Andy Cole, who is currently in the US with the club’s pre-season tour, praised SoFi for its positive impact on the local community. He believes this kind of transformation could be replicated at Old Trafford.

“What impressed me most was how the stadium has been central to the revitalization of Inglewood,” Cole said. “I’ve been coming to LA for years, and this area was not a top destination for visitors. Seeing it become a thriving neighborhood with SoFi at its center is a powerful example of urban renewal. I see a similar opportunity in Manchester.

“A new or redeveloped Old Trafford could drive the revitalization of the surrounding area. Manchester United fans and people in the north of England deserve a world-class stadium, and SoFi sets a high standard. This is the kind of arena that attracts top players and offers an exceptional experience for fans.”