Gary Neville chosen by Sir Jim Ratcliffe to advise on Man Utd stadium redevelopment as INEOS chief calls on expertise of defender-turned-entrepreneur

The former United captain will be part of a committee that will analyse the various options for the future of Old Trafford, according to The Athletic. Ratcliffe has pledged to invest $300 million (£238m) into developing the stadium in addition to buying a 25 percent stake in the club, which was finally completed on Tuesday.

There are two main options available to the club, renovating the current stadium or building a brand new arena on the land next to it. Ratcliffe is reported to be in favour of constructing a new stadium, which has been described as 'The Wembley of the North'. Old Trafford is the biggest club stadium in Britain, hosting more than 73,000 people at each game, and one of the largest in Europe. But it feels rusty and dated in comparison to new grounds such as the Tottenham Hotspur stadium, Arsenal's Emirates Stadium or the recently expanded Anfield.

Since retiring from football, Neville has combined his work as a pundit for Sky Sports with major property investment. He co-owns Hotel Football, which is next to Old Trafford, and the 92 Academy education institute also in the area, in addition to other developments in Greater Manchester.

Neville and Ratcliffe must now decide whether to renovate the ground or build a new one. A renovation is estimated to cost around £800m ($1bn), while a brand new stadium could cost anything between £1.2bn and £1.6bn ($1.6bn to $2bn).