The taskforce set up by Sir Jim Ratcliffe has reportedly reached an initial conclusion.

Old Trafford has been United’s home since it was opened in 1910, and holds a capacity of 74,310.

But some parts of the stadium have fallen into a state of disrepair over recent years, with many fans blaming the Glazer family for not sufficiently investing in its redevelopment.

Last season, sections of the stadium’s roof would leak during heavy rain, with footage of water pouring down onto seats emerging after the 1-0 defeat to Arsenal in April.

In March, new minority co-owner Sir Jim Ratcliffe decided to assemble a taskforce to look at options for either renovating Old Trafford entirely.

The taskforce consists of United legend Gary Neville, the Mayor of Greater Manchester, Andy Burnham, and the chief executive of Trafford Council, Sara Todd. It is chaired by Lord Sebastian Coe.

And the taskforce has now, according to The Athletic, reached an initial conclusion that a new 100,000-seater stadium should be built adjacent to the existing Old Trafford site.

It is claimed that Ratcliffe’s preference is for the new stadium to be built from scratch instead of renovating Old Trafford in its current state.

Such an agreement would allow United to continue playing at the current site while building work is ongoing, with a ‘new Old Trafford’ being constructed.

And Ratcliffe reportedly wants to create a ‘major economic and social hub’, with retail outlets opening up around the stadium as part of a campus-style structure that would also link to MediaCity.

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There are several issues for the taskforce to consider, however. One issue is believed to be the cost, with a new build costing around £2 billion compared to renovation, which is said to come in at around half that amount.

Ratcliffe would need to consider his options in order to finance the stadium, and any agreement would have to go through consultation and community engagement before anything is finalised.

In March, the 71-year-old proposed the potential use of taxpayers’ money to help fund the stadium by requesting support from the former Conservative government. The proposal was rejected, however.

He told the Manchester Evening News: “The people in the north pay their taxes like the people in the south pay their taxes. But where’s the national stadium for football? It’s in the south.

“Where’s the national stadium for rugby? It’s in the south. Where’s the national stadium for tennis? It’s in the south. Where’s the national concert stadium? It’s the O2, it’s in the south. Where’s the Olympic Village? It’s in the south.”