Manchester United plan to build a new two billion pound ($2.59 billion) 100,000-seat stadium that will be the biggest in Britain, next to the existing Old Trafford, the club announced on Tuesday.

The decision has finally been reached to build a new 100,000 capacity stadium, replacing their 115-year Old Trafford home at costs forecast to reach £2billion ($2.59bn). Part owner Sir Jim Ratcliffe predicted it can “become the world’s greatest football stadium” and the first designs have shown the vast scale of United’s ambition.

Manchester United have announced plans for a new stadium, which will be built next to their current home venue — Old Trafford.