Man Utd WILL need public money for Old Trafford rebuild, says Mayor of Greater Manchester, as he draws comparisons with London Olympics project

United confirmed the appointment of an expert task force that will explore ways to turn the home of the Red Devils into a "world-class" stadium following the partial takeover of Sir Jim Ratcliffe and his INEOS group. Manchester's mayor believes that the investment cannot come from the British billionaire and United alone, however, saying public funds will be needed to fix the infrastructure around Old Trafford.

"It has to be a public private partnership. Even to refurbish Old Trafford will have to be a public-private partnership," the mayor, who is part of United's expert group, said. "There is not going to be any kind of sense in the pouring of public funds into a new stadium. That’s not what we’re talking about. What we are talking about is a complex regeneration scheme that could be the biggest in the north of England in our lifetime. The power of this club for us is massive. We need set it up for the 21st century and in doing so I think we will bring huge economic benefits for our residents. It is about the wider enabling. If Sir Jim goes big with his vision, we will need transport infrastructure to support it, we will need to put investment in to support that so the jobs can come in around it. That’s what is at stake here."

The mayor also drew parallels with the regeneration of parts of London for the 2012 Olympics, adding: "This could be the biggest regeneration project in the north of England that we will ever see - it could be that big. It could be on that scale [east London’s transformation following the Olympics] and it could be more because of this club and the desire of people around the world to be associated in some way with this club."

Old Trafford has largely been left untouched over the last 18 years, essentially falling into disrepair over that period. Many former players such as Gary Neville, who has also been added to the expert task force, have complained about the state of the stadium. United confirmed in December after Ratcliffe and INEOS purchased a 25 per cent stake in the club that a significant sum of money would be put into upgrading the stadium.

The Red Devils will soon begin looking at ways to revamp their famous stadium over the coming months. In the meantime, Erik ten Hag's team will aim to secure a place in the Champions League next season by finishing in the Premier League's top four - they currently sit sixth in the table following a 2-0 win over Everton on Saturday.