The owner of Manchester City, Sheikh Mansour, plans to fund the construction of new homes and commercial units in the land surrounding the football club's stadium, as part of the regeneration of the wider Manchester area.
The football club, which will work in conjunction with Manchester City Council, are reportedly prepared to invest in the region of £1bn.
The project is also expected to involve the expansion of the 48,000 capacity stadium itself.
New home developer to build new home for Aberdeen FC
New home developer and Aberdeen chairman Stewart Milne is determined to build a new home for his football club at a cost of around £40m, despite the threat of relegation from the Scottish Premier League.
The housebuilder is committed to constructing a new 21,000 seater stadium at Loriston Loch, which he wants Aberdeen to be playing in by 2013/14, before he leaves the club.
Milne recently told the press: "The new stadium is a massive challenge for us but we do not have the option of sitting back and doing nothing. We have been stretching the stadium for years. We do not have answers about where every single penny is going to come from but we have identified most of the avenues we will be working hard on in the next year or so.
"There can never be guarantees, all we can do is explore every single avenue, working on these areas we believe we can generate funds. We are focused on trying to achieve this."
Milne has already submitted plans for the new stadium and hopes to get the green light from the local council for the project next month. The final decision would then have to be made by the Scottish Office.
Abramovich wants mega new home in London
Another football chairman, Roman Abramovich, the owner of Chelsea football club, also plans to build a new home, but not for his football club.
The Russian billionaire has been buying up homes in Knightsbridge's Lowndes Square with a view to building an eight bedroom mansion which is expected to be worth in the region of £150m in today's market if eventually built.
Plans for the new home includes a cinema/entertainment room, an indoor pool, steam room and sauna.