MANCHESTER, England, March 8 (Reuters) - Sebastian Coe will chair a Manchester United ( MANU ) task force to explore options for a new or regenerated stadium at Old Trafford, the club announced on Friday.

Coe is the former chair of the 2012 London Olympics organising committee and current president of World Athletics. The task force's formation comes on the heels of British billionaire Jim Ratcliffe's acquisition of a stake in the club.

The Old Trafford Regeneration Task Force will assess the feasibility of building a new stadium that is equipped to handle international games plus provide a modernised home for Manchester United ( MANU ).

The club said it will not move away from Old Trafford, ensuring they remain rooted to their historic home.