Manchester United have appointed Olympic legend Lord Sebastian Coe to spearhead the development of their proposed new 100,000‑seater stadium – the centrepiece of the Old Trafford Regeneration Project.

Coe, a two-time Olympic gold medallist and current President of World Athletics, has been named Chair-Designate of the Mayoral Development Corporation (MDC), the new body overseeing the transformation of the area around Old Trafford.

The project, expected to span a decade, aims not only to deliver a state-of-the-art stadium – which would become the largest in the United Kingdom – but also to revitalise the surrounding district with investment in housing, infrastructure, education and transport.

United first unveiled their plans for a new £2bn ground in March, which will be built close to the current stadium – widely viewed as outdated and in disrepair. The club hopes to complete the project within five to six years, and ultimately host the 2035 Women’s World Cup final at the new venue.

Lord Coe, who previously led the Old Trafford Regeneration Task Force – which explored the initial feasibility of the stadium and wider development – and famously chaired London’s successful 2012 Olympic and Paralympic bid, said he is “delighted” to continue working on the initiative.

“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,” Coe said. “That was certainly true of the London 2012 Olympics and Paralympics – and now, I believe, Greater Manchester’s moment has come.”

“This is about so much more than just a stadium. It’s about listening to and working with residents to create a vibrant, inclusive district, with high-quality housing, green spaces, world-class leisure and education facilities, and improved transport links.”

United’s CEO Omar Berrada praised the appointment: “Lord Coe’s proven leadership and track record in delivering transformational projects will be invaluable as we work together to turn our collective vision into reality.”