It said the initial focus will be on the gym and medical, nutrition and recovery areas, with emphasis on creating more space for “collaboration and innovation” among players and staff.
Temporary amendments will be made to the site to allow players to train there next season.
Sir Jim said the club wanted “to create a world class environment for our teams to win”.
“When we conducted a thorough review of the Carrington training facilities and met with our men’s first team players, it was clear the standards had fallen below some of our peers,” he said.
“This project will ensure Manchester United’s training ground is once more renovated to the highest standards.”
Lord Norman Foster, the owner of Foster & Partners, said that as a “proud Mancunian”, it was a “particular honor for me to see Foster & Partners given this responsibility”.
“We will ensure that our design captures the spirit of industry, grit and ambition that exemplifies both Manchester and Manchester United,” he added.
Sir Jim’s petrochemicals firm Ineos Group bought a 27.7% stake in the club in December, and is responsible for heading the football side of the business.
New director Sir David Brailsford recently conducted a post-season review of football operations at Old Trafford, which resulted in under-pressure manager Erik Ten Hag retaining his job.
