Manchester United has secured the majority of land needed to build a new 100,000-seat stadium near its current Old Trafford ground in Manchester, England, according to a press release from the club.

The club acquired a 25-acre site located approximately 350 meters northwest of the existing stadium from Indurent, a Blackstone portfolio company that provides industrial space. The new venue is described as intended to become the largest sporting arena in the United Kingdom.

Collette Roche, CEO of Manchester United's New Stadium Development, said the land acquisition "represents a significant milestone as we move into the next phase of development," adding that building close to Old Trafford allows the club to "preserve the heritage, traditions and rituals that are so important to our fans."

The club said it has collaborated with Trafford Council and the Old Trafford Regeneration Mayoral Development Corporation (OTRMDC) to align the stadium's location with a broader 370-acre regeneration project for the surrounding area. That wider project is projected to deliver around 15,000 new homes, create 48,000 local jobs and more than 90,000 nationally, and add over £7 billion annually to the UK economy.

The OTRMDC is scheduled to publish its regeneration vision on July 9, when additional details about the stadium site and a formal public consultation period are expected to be released. Manchester United said it will engage directly with businesses affected by the development plans during the transition period.