Sir Jim Ratcliffe is looking at turning Manchester United’s home into a stadium worthy of one of the world’s biggest clubs.

The idea of redeveloping Old Trafford was considered, but it has now been knocked on the head, with all signs pointing towards a new ground.

Old Trafford is an iconic ground, but it has been neglected for yearsGetty

Many Red Devils fans feel the ‘Theatre of Dreams’ is no longer fit for purpose, and the hierarchy agree.

Ratcliffe has made it clear that one of his priorities is ensuring that wherever Man United call home, it’s up to standard.

The billionaire’s 25 per cent stake in Man United was confirmed in December 2023, and he’s already made several changes, including shedding staff and cancelling Sir Alex Ferguson’s ambassadorial contract.

But one of his main aims was to create a sensational stadium.

There is a lot of information out there, and here is all we know so far.

Manchester United’s stadium plans: New ground

It seems almost inconceivable to imagine United playing anywhere other than Old Trafford.

However, the club are now looking at building a super stadium.

The plan is for Man United’s new ground to be built on roughly the same location as Old Trafford, meaning one of the world’s most iconic stadiums would be knocked down.

This so-called ‘Wembley of the North’, would be the biggest venue in the country, holding 100,000 people.

A model design shows where a new stadium could be developed in Manchester for the Red DevilsAFP

But it wouldn’t just be a stadium; this would be a massive infrastructure project that would see a transport hub, new homes, places for businesses and entertainment.

Man United’s ‘Wembley of the North’ would be at the centre of the project, but there is set to be a regeneration of the area.

The club own 100 acres of land around Old Trafford; 43 of those are ripe for development, and 25 are unused, and it is this land that would be used.

Architects Foster + Partners, who designed Wembley, have been appointed for the project.

Plans for this incredible undertaking are set to be submitted at the end of 2024, and work could commence as early as 2025 once the club get approval.

But given the vast scale, the stadium and surrounding area might not be complete until 2030.

Manchester United’s stadium plans: Where is the money coming from?

Given they appear all set on a new stadium, there are going to be some serious funds required to build Old Trafford’s replacement.

Reports suggest that creating Ratcliffe’s ‘Wembley of the North’ will cost in the region of £2 billion.

There are many issues with Old Trafford these days

Ratcliffe wants Man United to compete in an elite stadium, meaning Old Trafford is set to go

Ratcliffe has already pledged a significant chunk, but several reports had suggested he was looking to lobby the government for public funds to help United.

But it has been clarified that there will now be no public money for United to spend on their new ground.

However, public funds are being sort for the general revamping of the area, which has been estimated to bring £7.3b to the UK economy, 92,000 jobs, 17,000 houses and an extra 1.8 million people to the area.

In terms of the stadium, United could also look to get some tax breaks and relaxed planning regulations.

Another way United could fund it is with their own cash and bank loans, while the Manchester United Supporters’ Trust have offered to buy shares from the club.

This would raise capital for investment and give the fans a say in how the club operates.

INEOS have already approached potential investors as the club look to find the necessary funds they need.

Man United fans are ready to help fund Ratcliffe’s plansGetty

AI-generated video shows what this new hub in Manchester could look likeMan Utd

Manchester United stadium plans: What has been said?

Ratcliffe has emphasised his view that Man United should have a stadium that can compete with Wembley.

Speaking about building a new ground, he said: “You have got this opportunity if you choose to, to build a completely new ground, because we have got enough space.

“If you built a completely new ground it would absolutely be state-of-the-art, world class, 90,000 or maybe even 100,000 that then provides a platform for some of the big competitions in the north of England.

“Why do England always play in the south? Why is the FA Cup final always in the south? Why can’t the Champions League final be in the north occasionally?

“Football in the north is just as important as it is in the south, arguably more so, and the people in the north pay their taxes, so why do we have Wembley, Twickenham, Wimbledon etc in the south.

“What have we got in the north? There’s a strong argument to build a ‘Wembley of the north’.”

Neville doesn’t want to see public money spent on Man United’s new ground

Meanwhile, United legend and Sky Sports pundit Gary Neville is part of the Old Trafford Regeneration Task Force, which is looking to transform that part of Manchester.

For Neville, he sees this project as an opportunity to help the north of England.

Speaking about this, he said: “There are two different things happening. Manchester United will build a new stadium and for that there should be no public money. That’s absolutely clear.

“Andy Burnham [Mayor of Manchester] has said that before and I’m absolutely unequivocal on that. With the amount of stress that’s in the public finance at this moment in time, it’s unjustifiable that it can go into a football club.

“However, you think of what’s happened with HS2 now being cut to the north of England, and the devastation that will cause and the damage that will cause to the northern region.

“When you talk about ‘Northern Powerhouse’ as a ‘levelling up’ – the previous government’s motto – none of that has ever happened. It’s just words. It’s PR slogan.

“What this will do is redistribute the freight into a different part of the north west to allow capacity to open up in Greater Manchester, in Liverpool, and other parts and beyond, which will have a massive impact on the economy locally.”