Manchester United revealed new details on Thursday regarding its proposed stadium project with a capacity of about 100,000 spectators, and pinpointed its location just 350 meters northwest of its historic Old Trafford stadium.

The project is part of a broader redevelopment plan for the area around the stadium, a step through which the club aims to build what Jim Ratcliffe, one of Manchester United's owners, described as 'the greatest football stadium in the world.'

According to the club, the project goes beyond building a new stadium, as it is expected to create about 48,000 local jobs, build 15,000 homes, and inject up to £7.3 billion (around $9.8 billion) annually into the British economy.

Collette Roche, chief executive officer of Manchester United's new stadium development, said the project represents a 'once-in-a-generation opportunity' to create a destination that delivers long-term benefits for fans, local communities, and the entire region.

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She added that the club is committed to building a world-class stadium 'with our fans, not just for them.'

The location selection represents a new step in the path of the massive project, which places the future of Old Trafford before a historic transformation, after the current stadium has been one of the most prominent symbols of English football and the home of Manchester United for decades.

Through the project, the club aims to create a sports facility with a capacity of 100,000 spectators, making it among the largest football stadiums in Europe, as part of a broader vision to redevelop the surrounding area and transform it into an integrated sports and economic hub.