The club has acquired a 25-acre triangle of land between Wharfside Way, Europa Way and John Gilbert Way, immediately behind the Stretford End, providing enough space to construct what would become the largest football stadium in the UK.

The new ground, dubbed ‘New Trafford’ in project documents, will sit around 350m from Old Trafford, allowing United to continue playing at their current home while construction takes place.

The stadium is expected to cost £2bn and take five years to build and forms the centrepiece of the wider regeneration of the Old Trafford area.

Designed by Foster + Partners, the proposed stadium features a vast umbrella-style roof designed to harvest solar energy and rainwater. Three giant masts will rise above the structure, making it visible from up to 40km away.

The unusual tent-like stadium design by architect Norman Foster will form the centrepiece of the regeneration of the Old Trafford area.

While United still need to acquire several smaller land interests and negotiate with existing leaseholders, sources close to the project do not expect significant obstacles.

The land has been acquired from Indurent, part of the portfolio of investment giant Blackstone. United have declined to reveal the purchase price or how the acquisition has been funded.

The draft masterplan for the wider housing regeneration project will be unveiled on 9 July and is expected to provide further detail on transport links, including potential enhancements to the Metrolink and wider rail network to serve what would become England’s biggest stadium.

At 100,000 seats, the new stadium would overtake Wembley as the country’s largest sporting venue and become Europe’s second biggest football ground behind the redeveloped Camp Nou.

Collette Roche, Manchester United’s new stadium development chief executive, said: “Today’s news highlights the progress we’re making towards a world-class new home for Manchester United and represents a significant milestone as we move into the next phase of development.

“Being able to build so close to Old Trafford allows us to preserve the heritage, traditions and rituals that are so important to our fans.”