Leaders at Lancashire County Cricket Club want to race through the procurement process and get a contractor on site by the Autumn as they bid to bring test cricket back to the historic ground.
The redevelopment is being part-financed by Tesco who are building a new store on land adjacent to the ground in partnership with Ask Developments.
Lancashire chief executive Jim Cumbes said: “This is an historic decision for the future of international cricket in the North West – we can now press on with redeveloping the famous Old Trafford cricket ground and securing our place as one of the world’s best cricketing arenas.
“Government Office North West has backed the council’s recognition of the important role the club plays in supporting Trafford’s economy – especially through hosting international matches like the Ashes.
“And this decision backs the partnership’s plans to deliver a much-needed new retail offering, hundreds of local jobs, and millions of pounds in regeneration to this part of the borough.
“With construction work now set to progress, I would personally like to thank everyone who has backed our proposals.”
Michael Kissman, Corporate Affairs Manager for Tesco said: “This is a flagship development for us in the Manchester area we are delighted that we can now proceed with the scheme and support the redevelopment of the cricket ground. ”
The first phase of the redevlopment – a new £15m media centre centre known as The Point – has been finished and handed over to the club by Morgan Sindall.