Manchester United may be experiencing one of the most chastening seasons in its recent history, but the club is planning for a much brighter future.

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.

Manchester United on Tuesday announced plans to build a new 100,000-capacity stadium that co-owner Jim Ratcliffe said would be the "world's greatest" football ground. "Today marks the start of an incredibly exciting journey to the delivery of what will be the world's greatest football stadium,