Manchester United have confirmed that former Olympian Lord Seb Coe will be spearheading the project to build a new stadium for the club. Back in March, MEN Sport reported that the 100,000-seater stadium is aiming to be open by the start of the 2030/31 season. It is likely to cost United as much as £2bn to complete the project and despite reports to the contrary, taxpayers will not be footing the bill for the new ground. Old Trafford has long since been criticised for its lack of modification with the blame pointed towards the Glazers . When Sir Jim Ratcliffe purchased a minority stake in the club, he quickly set out his ambition to invest in the stadium. After a consultation period with the Old Trafford Regeneration Task Force, it was decided that a new stadium would be the best option for United, on land near the current footprint for the ground. Now, the Reds have confirmed that Lord Coe has been appointed Chair-Designate of the Mayoral Development Corporation (MDC) for the Old Trafford Regeneration project. It is explained that the 68-year-old will play a 'key role' in the next phase of the project. His role will focus on planning, land assembly and investment in infrastructure. Speaking about his new role, Lord Coe said: "I’m delighted that I’ve been asked to be the chair designate of the proposed Old Trafford Mayoral Development Corporation. Throughout my career, I’ve seen the difference that sports-led regeneration can make in fostering strong communities and acting as a catalyst for economic growth. "That was certainly true of the London 2012 Olympics and Paralympics – and now, I believe, Greater Manchester’s moment has come. Working with Trafford Council and the Mayor, there’s huge potential to bring new homes and jobs to the area around the Manchester United stadium. "And looking ahead, I see a chance to bring the FIFA Women’s World Cup to a new Old Trafford Stadium in 2035. The home nations are the sole bidder, which presents a rare opportunity to bid to host the global football family." Here at The Manchester Evening News, we are dedicated to bringing you the best Manchester United coverage and analysis. Make sure you don't miss out on the latest United news by joining our free WhatsApp group. You can get all the breaking news and best analysis sent straight to your phone by clicking here to subscribe. You can also subscribe to our free newsletter service. Click here to be sent all the day's biggest stories. And, finally, if you would rather listen to our expert analysis then make sure to check out our Manchester is Red podcast, featuring The Samuel Luckhurst Show and The Midweek Debate. Our shows are available on all podcast platforms, including Spotify and Apple Podcasts , and you can also watch along on YouTube .