Sir Jim Ratcliffe's plans to knock down Old Trafford and build a new home for Manchester United have taken a step forward after his 'Regeneration Task Force' met for the first time.
Ratcliffe assembled the task force last month to explore the club's options, with the new United co-owner keen to create a 'Wembley of the North'. Mirror Football reported that Ratcliffe had considered revamping Old Trafford, but ultimately decided it would be best to demolish the stadium and rebuild it instead.
The Glazers are understood to have given the project their approval and the task force held their inaugural meeting on Monday to discuss the plans. World Athletics President Lord Sebastian Coe is chairing the task force, which also includes Mayor of Greater Manchester Andy Burnham and former United captain Gary Neville.
And Lord Coe has now offered an update on the meeting, writing on social media: "Yesterday, I chaired the first meeting of the Old Trafford Regeneration Task Force to kick off a conversation about how development of a world-class football stadium for the north of England can deliver social and economic benefits for the region.
"At the London 2012 Olympics, I saw first-hand how sport can be a powerful driver of urban regeneration and I am excited to be part of this project. This meeting marked the start of a multi-stakeholder process to explore options for the stadium and surrounding area.
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"We are at the start of this journey, and it is too soon to know where it will lead. But we will consult closely with fans and local residents along the way, and keep everyone informed of progress."
Speaking last month, Ratcliffe claimed that building a new stadium is a "once-in-a-century opportunity" for the club. He said: "This can be a major regeneration project for an area of Greater Manchester which has played such a key role in British industrial history, but which today requires new investment to thrive again.
"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 the 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."
Neville, meanwhile, added: "Old Trafford has evolved throughout its history and it's clear we are at a point where it has to change again to ensure that Manchester United has a world-class stadium befitting the world’s greatest club.
"While I want the best for Manchester United, I also want the same for the surrounding community. Old Trafford should be a stadium that the whole of Greater Manchester can take pride in, and be a catalyst for sustainable, cohesive growth in an area of the city that has been neglected for too long."
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