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Manchester United will announce plans to build a brand new 100,000-seater stadium on Tuesday, talkSPORT understands.
United's minority owner Sir Jim Ratcliffe has been the driving force behind creating a 'Wembley of the north'.
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The project is expected to cost £2billion and Ratcliffe has secured government backing to regenerate the area around United's current Old Trafford home.
talkSPORT understands the plans will be formally announced by the club on Tuesday.
United's plans of building a new stadium received a major boost in January when the proposal received the backing of the government.
Chancellor of the Exchequer, Rachel Reeves, was one of the leading voices championing the regeneration project.
It is estimated the redevelopment of the Trafford Park area could boost the UK economy by as much as £7.3b.
The new-look Trafford Park complex would boast a major transport hub as well as dedicated premises for sports, residential, entertainment, business as well as an education campus.
Crucially, the Old Trafford Regeneration Task Force claimed their plans to re-shape the area would create more than 90,000 employment opportunities.
Upon learning the government was behind the plans to regenerate the area, United CEO Omar Berrada said: "The delivery of a world-class stadium can be the catalyst for major regeneration of an area of Greater Manchester which requires new investment to thrive again.
“We cannot achieve that wider aim on our own, which is why we welcome the announcement by the Chancellor and the ongoing support of the Mayor of Greater Manchester and Trafford Council.
"If we work together, there is a once-in-a-lifetime opportunity to create a landmark project around Old Trafford that the whole region can be proud of.”
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Mayor of Greater Manchester Andy Burnham believes the chance to regenerate the area around Old Trafford is 'the biggest opportunity for urban regeneration this country has seen since London 2012'.
"We look forward to working with the Government on moving freight away from the site around Old Trafford to new locations to open up capacity for our rail network and unlock massive regeneration potential – delivering benefits across the whole of the North," Burnham said.
United have played at Old Trafford for 114 years after the stadium was opened in 1910.
Should the new stadium get build it would be the biggest attendance in a UK stadium, with London's Wembley Stadium currently holding a capacity of 90,000 spectators.
More to follow...
