Manchester United have revealed plans to build the largest football stadium in the UK—an impressive new 100,000-seater venue costing £2 billion. The new stadium will be located near Old Trafford.

Co-owner Sir Jim Ratcliffe expressed his ambition to create the "world’s greatest football stadium," with hopes that construction will be completed within five years.

After carefully considering whether to renovate Old Trafford or construct a new facility, the club decided on an entirely new stadium.

Old Trafford has been United’s home since 1910, but the club believes the new project will offer a modern and world-class experience.

The design, led by architects Foster and Partners, will include a unique umbrella-style roof and a massive public plaza, said to be twice the size of Trafalgar Square.

The stadium will also feature three towering masts, known as "the trident," which will stand 200 meters tall and be visible from 25 miles away.

Despite these ambitious plans, Manchester United, which currently has £1 billion in debt, has not yet revealed how it will fund the project.

The new stadium will be part of a major redevelopment of the Old Trafford area, expected to be the biggest in the UK since the Stratford regeneration for the 2012 London Olympics. Chancellor Rachel Reeves has already pledged government support for the project.

Manchester United says the development could create 92,000 jobs, include the construction of 17,000 new homes, and attract an extra 1.8 million visitors each year. They also estimate that the project will contribute £7.3 billion annually to the UK economy.

“Today marks the start of an incredibly exciting journey to the delivery of what will be the world’s greatest stadium,” said Ratcliffe.

“Our current stadium has served us brilliantly for the past 115 years but it has fallen behind the arenas in world sport.

“I think we may well finish up with the most iconic football stadium in the world.”