Sir Jim Ratcliffe's plans for a 'new Old Trafford' have emerged and they are seriously impressive

Manchester United shareholder Sir Jim Ratcliffe is already making progress with plans to transform Old Trafford into a 90,000-capacity stadium.

The 71-year-old, who is the founder and majority owner of INEOS, one of the world's largest chemical producers, has acquired a 25% stake in the club in a deal worth around £1.3 billion.

Ratcliffe and his team will assume total control of football operations at the Premier League club, with the recent appointment of Omar Berrada as chief executive signalling their intent.

And on top of that, the British billionaire has pledged to upgrade the tired and decaying Old Trafford into a state-of-the-art venue, with details of his plan emerging in a new report from The Mail.

INEOS is said to be 'leaning towards' a rebuild on land at the side of United's current home, and Ratcliffe has already approached potential investment partners at home and abroad.

So what can we expect from the 'new' Old Trafford?

Well, it appears the proposed 90,000 stadium could feature a 'new Stretford End' – a single-tier stand similar to the one at Tottenham Hotspur's ground but on a larger scale.

A five-star hotel to cater for those who travel to Manchester from around the world is also being considered, according to the report, as well as United-themed attractions.

It emerged earlier this month that Ratcliffe wants to create a ‘Wembley of the North’.

In fact, The Telegraph has claimed he could lobby the UK government for 'Levelling Up' funding to help finance the ambitious project, which may cost up to £2 billion.

A source close to Ratcliffe told the publication: “He feels the club need an absolute state-of-the-art, knock-it-out-of-the-park, 'wow' stadium.

“And we feel there's a strong argument for the country having a top-class major venue in the North - a Wembley of the North.”

Ratcliffe and INEOS are already in talks with Andy Burnham, the Mayor of Greater Manchester, as well as officials at Trafford Council, regarding plans for a refurbished Old Trafford.

Part of the vision reportedly includes the potential for a sport, entertainment and community village around the rebuilt stadium which would create jobs and boost the local economy.