Despite failing to regain Premier League status at the first attempt, the club's plc chairman Kevin McCabe said United's plans to become one of the country's top 10 clubs remained firmly in place with planned ground expansion – and hopes for the World Cup – underlining the Blades ambitions.

And he revealed the Blades have already contacted the organisers of England's 2018 bid to register their intention to host matches.

"Sheffield United have written to the powers-that-be to become a World Cup venue. Sheffield is the home of football, Bramall Lane is the oldest football stadium in the world – it's perfectly logical they could play here."

The bold statement of intent was made despite the global economic downturn which McCabe acknowledged had "postponed" the club's hopes of securing significant overseas investment.

Host venues would need to have ground capacities above 40,000, currently more than the capacity of Bramall Lane. But a detailed planning application to extend the Kop end of the ground to increase capacity by 3,000 to around 37,000 is imminent and there are further intentions to redevelop the South Stand to go beyond the 40,000 mark.

Timing of the Kop extension depends on the club's fortunes on the pitch with promotion to the Premiership likely to be the trigger.

Work would not begin until 2009 at the earliest.

United's cross-city rivals, Sheffield Wednesday, have previously hosted both World Cup and European Championship games at Hillsborough and Leeds United have also expressed an interest in the 2018 potential but McCabe believes the historical status of Bramall Lane and the club's rapid off-the-field progression would potentially give the Blades the edge to host any games in Sheffield.

Despite admitting that economic uncertainty around the world had brought a temporary halt to plans to secure overseas investment – particularly from the US – McCabe insisted United remained financially secure.

But he declined to be drawn on the club's summer spending plans for new players though did suggest the emphasis would be on a smaller squad of higher quality. Significantly he did not rule out another big signing similar to last year's acquisition of £4m striker James Beattie.