Manchester United announced on Monday that it has secured most of the land required for its planned new 100,000-seat stadium, a major step in its ambition to build Britain's biggest football stadium.

The current stadium, home to Manchester United since 1910, has a capacity of more than 74,000, while Wembley, the official home of the Football Association (FA) in London, has a capacity of 90,000.

The Premier League club said on its official website that it has secured the majority of the land needed to build the new stadium as part of its long-term vision to transform the Old Trafford area of Manchester.

The new stadium, which would become the biggest sporting arena in the UK, will catalyze the regeneration of the surrounding district, helping create one of the most dynamic and globally significant sporting and entertainment destinations in the world, the club said.

The club has acquired the 25-acre site, located approximately 350 meters northwest of the current stadium.

Collette Roche, CEO of Manchester United's New Stadium Development, said: "The club has also worked to ensure the location of the new stadium works cohesively with the wider Old Trafford regeneration strategy, ensuring optimum connectivity and the best possible experience for fans."

Roche said the 370-acre regeneration project is expected to deliver around 15,000 new homes, including affordable housing, create 48,000 new jobs locally and over 90,000 nationally, and add more than 7 billion pounds a year to the UK economy.