Sir Alex Ferguson has backed Manchester United's decision to build a brand new £2billion stadium that will see the club move away from Old Trafford.
The Red Devils today confirmed that they plan on building the 'greatest stadium in the world' as they look to move with the times.
Architects at Foster and Partners have revealed the stadium will feature an umbrella design.
It will host 100,000 supporters every home game, with 92,000 new jobs and 17,000 homes set to be created as a result.
Sir Alex Ferguson has backed Manchester United's decision to build a brand new £2billion stadium that will see the club move away from Old Trafford
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United fans on social media have reacted positively to the stadium's grand designs.
And though moving away from Old Trafford will sadden many supporters of the club, Ferguson is adamant that a change is needed.
"Manchester United should always strive for the best in everything it does, on and off the pitch, and that includes the stadium we play in," said the Scot.
"Old Trafford holds so many memories for me personally but we must be brave and seize this opportunity to build a new home, fit for the future, where history can be made."
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United have played at Old Trafford ever since 1910.
However, the ground has shown signs of wear and tear over the years - with the club's owners, the Glazers, criticised for letting it crumble.
Ratcliffe, who purchased a minority stake in United last year, feels the future is bright.
"Today marks the start of an incredibly exciting journey to the delivery of what will be the world's greatest stadium," he said.
Man United plan on spending £2bn on a new stadium despite their poor form on the pitch
Fosters and Partners
"Our current stadium has served us brilliantly for the past 115 years but it has fallen behind the arenas in world sport.
"I think we may well finish up with the most iconic football stadium in the world."
Greater Manchester mayor Andy Burnham also welcomed the plans by saying: "If we get this right, the regeneration impact could be bigger and better than London 2012.
"Manchester United could, and indeed should, have the best football stadium in the world.
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"To me, that means a stadium that is true to the traditions of the club, affordable to all, with nobody priced out."
However, while many figures associated with the project are positive, the Manchester United Supporters Trust have revealed they're 'anxious' due to the club's dire form on the pitch.
"Whilst investment is much-needed and welcome, fans remain anxious about what it means and what the consequences will be," they said in a statement.
“Will it drive up ticket prices and force out local fans? Will it harm the atmosphere, which is consistently fans’ top priority in the ground?
Man United are set to move away from Old Trafford, having played at the ground since 1910
PA
"Will it add to the debt burden which has held back the club for the last two decades? Will it lead to reduced investment in the playing side at a time when it is so badly needed?
“We look forward to further consultation with supporters discussing these vital questions with the club.
"If they are able to produce a new stadium as stunning as the plans suggest without harming the atmosphere, without hiking ticket prices and without harming investment elsewhere, then this could be very exciting.
"But until the questions are answered, our optimism about plans to make Old Trafford the biggest and the best again will be restrained by caution about what the consequences for fans might be.”
