Manchester United hope to build a 100,000-capacity stadium within the next six years, a source told ESPN.
The club expects to make a final decision on whether to build a new stadium or redevelop Old Trafford before the end of the year.
The project is set to cost more than £2 billion ($2.6 billion) with United hoping to deliver a stadium with a capacity of between 90,000 and 100,000 built by 2030.
Co-owner Sir Jim Ratcliffe has previously stated that he would prefer to build a new stadium on the site of the existing stadium, possibly using land behind the Stretford End.
The plans are yet to be finalised, but club officials have been inspired by a number of similar projects around the world, but particularly the SoFi Stadium and surrounding regeneration project near Los Angeles.
United played Arsenal at the SoFi Stadium in Inglewood on Saturday as part of their tour of the United States and sources told ESPN that the club’s bosses have visited LA several times in recent years.
Former United striker Andy Cole, who was part of the Los Angeles delegation for the Arsenal match, said: “Manchester United fans and everyone in the north of England deserve a truly world-class stadium and SoFi has set the standard which they should aim for.
“I don’t make this comparison lightly, but you can see a parallel with the opportunity back in Manchester. A new or refurbished stadium at Old Trafford could be the focal point for revitalizing the surrounding area.”
Sources told ESPN that the United chiefs also visited the refurbished Bernabéu in Madrid and spent time at Wembley and Tottenham Hotspur Stadium, as well as watching the Chicago Bears Burnham Park project.
Ratcliffe has made the stadium project a priority since becoming part owner in February.
In March, it was announced that a joint task force, including Manchester mayor Andy Burnham and former United captain Gary Neville, had been set up to explore the options.
Speaking at a fan forum earlier this month, COO Collette Roche said: “The working group is making good progress in exploring the possibilities for a new or refurbished stadium at the heart of a wider regeneration.”
Roche also promised that fans would be consulted before any decision was made on a potential sale of naming rights to the new venue, but admitted that “all options” would need to be considered to fund the project. The task force will consider all funding options, including public-private partnerships.