Decision made on Man Utd's 'bold' plans for new 'world-class' Old Trafford stadium

A decision has been made regarding Manchester United's plan to regenerate their iconic Old Trafford stadium.

Old Trafford has been the home of the Red Devils since 1910 and has become one of the most famous stadiums in world football.

However, in recent years, fans have called on the owners to redevelop the Theatre of Dreams, with footage of the leaky roof often going viral on social media.

Since INEOS boss and billionaire Sir Jim Ratcliffe entered the fray last year, redeveloping Old Trafford has been one of the main talking points.

Now, it has been claimed that United's project has been back by the government.

The club released a statement titled 'Regeneration project backed by government'.

It read: "Manchester United has welcomed the announcement of government support for the project to regenerate the area around Old Trafford.

"In a statement on Saturday evening, The UK Treasury said Rachel Reeves, the Chancellor of the Exchequer, was championing the Old Trafford project as “a shining example” of the government’s plans to promote economic growth."

As reported by the Daily Mail, United plan build a new Old Trafford that will have a capacity of 100,000. The report stated: 'While all options remain on the table, United officials will now focus their energies on a 100,000 newbuild'.

It added that the government said the project would be a 'shining example of the bold pro-development model that will drive growth across the region'.

Manchester United plan to redevelop Old Trafford. Image: Getty

Reacting to the news, 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."

Meanwhile, the Mayor of Greater Manchester, Andy Burnham said: "With our devolved powers we’re mobilising the whole Greater Manchester system to lock in growth for the next decade and reap the rewards for our city-region and UK plc.

"The project around Old Trafford represents the biggest opportunity for urban regeneration this country has seen since London 2012 and is a key part of our 10-year plan to turbocharge growth across Greater Manchester. 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."