MANCHESTER, England — The Manchester United football club is set to receive backing from the British government for an ambitious redevelopment initiative aimed at revitalizing the region surrounding its historic Old Trafford stadium.

Rachel Reeves, the Chief Secretary to the Treasury, expressed her support for the project, referring to it as “a shining example” of the government’s commitment to fostering economic development.

Central to the proposal is the construction of a state-of-the-art venue, which may involve either renovating the existing stadium to accommodate 87,000 spectators or constructing an entirely new arena with a capacity for 100,000 fans.

Manchester United has embraced the government’s endorsement, with CEO Omar Berrada calling this endeavor a “once-in-a-lifetime opportunity.” He emphasized the potential of a top-tier stadium to act as a driving force for significant regeneration within a part of Greater Manchester that is in need of fresh investment to thrive once more.

Despite the club’s intention to spearhead its own stadium development, it acknowledges that assistance from public entities will be crucial to fully realize the broader regeneration prospects. This support would likely encompass enhancements to transport infrastructure and the development of housing in the vicinity of Old Trafford.

The initiative represents a significant step towards not only enhancing the club’s facilities but also transforming the surrounding community, creating a positive impact that could resonate well beyond the football pitch.