Jim Ratcliffe, the billionaire co-owner of the soccer club, framed plans for the 100,000-seat venue as crucial to the British government’s plan to revive the northern English city.

A proposed 100,000-seater arena, costing around 2 billion pounds ($2.6 billion), would be built next to United’s current Old Trafford home and surpass Wembley Stadium as the biggest in the United Kingdom.