The club state that the project should help create 48,000 local jobs and 15,000 new homes, plus a potential £7.3bn-per-annum boost to the UK economy.
The ground, which is set to be the biggest in the United Kingdom, will sit approximately 350 metres north-west of the existing Old Trafford stadium in what is a centrepiece for what is being called the Stadium District.
Collette Roche, CEO, New Stadium Development at Manchester United spoke on the project which she says will honour the urrent ground's history and traditions in what is an exciting development.
“The publication of the Wharfside Masterplan marks another significant milestone in our journey to create a new world-class home for Manchester United at the heart of a vibrant and transformational district for Trafford and Greater Manchester.
“Together with our partners, we have a once-in-a-generation opportunity to deliver a destination that creates lasting benefits for supporters, local communities and the wider region for decades to come.
“The proposed stadium site is ideally located alongside Old Trafford, enabling us to preserve the heritage, traditions and matchday rituals that are so important to our supporters, while also providing the connectivity and infrastructure required to deliver a truly world-class fan experience.
“We are committed to building a world-class stadium with our supporters, not simply for them. Atmosphere, affordability and accessibility will remain at the heart of our plans, and we look forward to continuing our engagement with fans and other stakeholders as we move into the next phase of design and development.”
United have spent the last 115 years at Old Trafford, which currently holds nearly 74,000 spectators. The move to a brand-new, modern ground which holds over 25k more fans and much improved facilities across the board could launch the club into a new era of success.