INEOS Group Limited Chairman and founder Sir Jim Ratcliffe announced on Tuesday that Manchester United FC, in which he is a minority shareholder, will build a new stadium with 100,00 seats.
Speaking at a press conference, Ratcliffe, who is also in charge of the club's sporting operations, claimed that it will be the "world's greatest" stadium. He added that the venue will be located "next to the existing site" but did not elaborate on what will happen to Manchester United's current home, Old Trafford.
The club said in a press statement that the project is estimated to contribute to the British economy in billions of pounds, up to 92,000 job posts, and more than 17,000 new houses.
