The Old Trafford redevelopment taskforce initially concluded that building a new stadium for Manchester United would be a more innovative option than redeveloping the existing stadium.
There are reports that a new 100,000-seat stadium has been proposed, making it the largest in the UK.
There have been four meetings held to discuss the feasibility of a project to build a stadium on club-owned land adjacent to Old Trafford and develop the local community.
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In May, the heavens opened up after Manchester United's defeat to Arsenal, revealing Old Trafford's leaky roof once again.
It is too early to say this is the only direction United will take, but it is the preferred direction to create a new world-class stadium suited to its surroundings.
The club owns a vast amount of land around Old Trafford which they believe is underused and could be used for housing, leisure, business, education, investment and job creation, as well as environmental improvements.
United have been studying the best stadium regeneration projects across sport, with a particular interest in those that have made a huge difference to the community, such as SoFi Stadium in Los Angeles, where United lost to Arsenal in pre-season.
The club held several meetings with the privately funded team developing the project ahead of the tour to learn from it.
Old Trafford has a capacity of 74,310.
United’s chief operating officer, Colette Roche, also visited the Bernabeu earlier this year and took a lesson from Real Madrid’s approach. The Chicago Bears’ Burnham Park project, where a new stadium could act as a catalyst for the regeneration of the wider area, is being explored.
United also played at Tottenham Hotspur Stadium and Wembley.
Funding is a key consideration for the task force, and a range of potential private funding sources will be explored. There may be opportunities for public-private partnerships to regenerate the area.
The task force is expected to make full recommendations by the end of the year following a period of consultation with key stakeholders, including fans and local residents.
CALL: LA's SoFi Stadium is a good example for Man Utd
SoFi Stadium in Los Angeles, USA, was the stadium where Manchester United suffered a pre-season defeat to Arsenal.
Andy Cole says the way the SoFi Stadium in Inglewood is being rebuilt could be applied to Manchester, where a new world-class stadium is being built or redeveloped at Old Trafford.
Speaking about his experience at the opening game of the pre-season tour against Arsenal, the former United striker said: “The biggest thing that impressed me was how central this stadium has been to the growth of Inglewood.
“I've been going to LA for years, but it's never been a place that visitors want to go.
“It’s an inspiring example of downtown revitalization to see how this area has thrived around SoFi.
SoFi Stadium opened in September 2020 and cost a reported $5 billion.
“I don’t take this comparison lightly, but I can see the parallels with the opportunity in Manchester. A new or redeveloped stadium at Old Trafford could be a focal point for revitalising the surrounding area.
“Manchester United fans and all of the North of England deserve a world-class stadium, and SoFi sets the standard for it.
“This is a stadium where the world’s best players want to play and where fans want to experience it.”
