Manchester United’s plans to upgrade Old Trafford include demolishing the stadium and building a new £2billion state-of-the-art venue.

The Red Devils have been presented with two options for expanding their home ground.

One involves a £1bn investment to improve the existing 74,000-seater Theatre of Dreams.

According to The Mail, this would likely include increasing the capacity and reinventing the corporate hospitality sector.

And then there is the more drastic option which is to build an entirely new ground.

This would reportedly cost close to £2bn, with the building of the stadium taking place on the land which surrounds Old Trafford – an area already owned by the club.

And then there is the more drastic option which is to build an entirely new ground.

This would reportedly cost close to £2bn, with the building of the stadium taking place on the land which surrounds Old Trafford – an area already owned by the club.

However, no new plans are expected to be agreed upon until the club has new owners.

The Glazers revealed towards the end of 2022 that they are looking for outside investment.

This could lead to a complete change in ownership, with United chiefs hiring Raine Group – the investment bankers who helped with the sale of Chelsea – to find a suitable deal.

Speaking last month, Avram Glazer said: “It’s not necessarily a sale, it’s a process and we’re going forward with the process, so we’ll see what happens.”