Man Utd announce ‘once in-a-century’ Old Trafford plans led by Sebastian Coe & Gary Neville

Manchester United will play a significant role in a joint task force that has been created to explore options on the development of the Old Trafford region, and the club's stadium.

Confirmation came on Friday that the Old Trafford Regeneration Task Force has been set up to 'explore options for regenerating the Old Trafford area of Greater Manchester, with the development of a world-class football stadium at the heart of the project'. That area includes Old Trafford, and the nearby Wharfside, Salford Quays and MediaCity.

The task force will be chaired by Lord Sebastian Coe, who oversaw the planning of the London 2012 Olympic Games, with Andy Burnham, Mayor of Greater Manchester, Sara Todd, chief executive of Trafford Council, and Gary Neville, the former United defender, also involved. Trafford council confirmed three weeks ago that they were speaking to interested parties about ‘exciting and ambitious plans’, which were presented via the draft Trafford Wharfside masterplan.

Those aspirations took a step forward following Friday's latest news. "The ‘Old Trafford Regeneration Task Force’ will bring together local leaders and national experts to examine how stadium development can support renewal of an area of the city with rich industrial history and huge potential for the future, and deliver social and economic benefits for the entire region," it was confirmed via a statement.

"Working in synergy with Trafford Council’s Trafford Wharfside Framework, the project aims to support revitalisation of the area between Trafford Park and the banks of Salford Quays, and support the ‘levelling up’ agenda to drive investment in the north of England. It would also reduce the over-concentration of major sporting venues and events in London and the south-east."

Lord Coe said: "Throughout my career in sport, I have seen the potential for stadiums to become focal points for strong communities and catalysts for social and economic development. That was certainly true of the venues we built in east London for the 2012 Olympics, and we are overdue a project of similar scale and ambition in the north of England. I am honoured to have this opportunity to share my experience in support of this tremendously exciting project."

United new co-owner Sir Jim Ratcliffe added: "The north-west of England has a greater concentration of major football clubs than anywhere else in the world, yet we don’t have a stadium on the scale of Wembley, the Nou Camp or Bernabeu. We will not be able to change that on our own, which is why this task force is so important to help us seize this once-in-a-century opportunity.”

Ratcliffe has spoken of his aims to build a 'Wembley of the North', with the Ineos lead shareholder revealing two weeks ago that the project could look to utilise government funding to make that possibility a reality - a plan which has not gone down well with many, given the UK's second richest man is hoping to draw on taxpayer funds. It's understood Ratcliffe is keen on the construction of a new stadium on land adjacent to Old Trafford that is owned by the club, although the redevelopment of the current ground remains an option as well.

United could cover the cost of a phased redevelopment of Old Trafford, but the price of a new-build stadium and wider regeneration plan would require outside funding. The club also plan to lean on Ineos' experience of developing major infrastructure, and insist they are 'not looking for handouts'. As part of Ratcliffe's plans, he has already spoken to community leaders, with 30,000 fans surveyed for their opinion on Old Trafford's future.

United also plan to allow some of the currently under-utilised area around Old Trafford to be used for housing, leisure, business, and education, driving investment and jobs and improving the environment, as part of the project.

The new task force announced on Friday also includes: Duncan Drasdo, member of Manchester United Fans’ Advisory Board and Chief Executive of Manchester United Supporters’ Trust, Tom Ross, leader of Trafford Council, Eamonn Boylan, chief executive of Greater Manchester Combined Authority and Transport for Greater Manchester, Anna Bensky, associate director of Peel Land, Dame Nancy Rothwell, president and vice-chancellor of the University of Manchester, Malcolm Press, vice-chancellor of Manchester Metropolitan University.