OLD TRAFFORD — Manchester United has secured the majority of the land required to build a new 100,000-seater stadium. The club acquired a 25-acre site located approximately 350 meters north-west of Old Trafford.

The new venue is planned to be the biggest sporting arena in the U.K. The stadium project is part of a wider regeneration project. Manchester United states the regeneration project is expected to deliver around 15,000 new homes, including affordable housing. The club also states the project is expected to create 48,000 new jobs locally and over 90,000 new jobs nationally. Additionally, Manchester United states the regeneration project is expected to add more than £7 billion a year to the U.K. economy.

Collette Roche, CEO of Manchester United's new stadium development, said, "Today's news highlights the progress we're making towards a world-class new home for Manchester United and represents a milestone as we move into the next phase of development." Roche added, "Being able to build so close to Old Trafford allows us to preserve the heritage, traditions and rituals that are so important to our fans." She said, "We are committed to building a world-class stadium with our supporters, not just for them, with atmosphere, affordability and accessibility at the heart of our thinking." Roche said, "This is a generational opportunity that is fully aligned with both local and national growth ambitions." She added, "Securing the right land for our new home has been absolutely critical, and the land we've acquired gives us the stage to deliver a truly world-class stadium that honours our past and is ready for our future."