Hosting final: Old Trafford (AlexLivesey/Allsport)

The committee selected Manchester United's stadium following a two-day meeting in Nyon, Switzerland.

Their decision means the final will be played in England for the first time since Barcelona and Sampdoria battled it out at Wembley in 1992.

United's managing director David Gill said: 'We are absolutely delighted UEFA has chosen Old Trafford to host club football's most prestigious event.

'This is great news for the club but also for the borough of Trafford, the city of Manchester and football fans everywhere, for whom Old Trafford is one of the best-known stadiums in the game.'

Seville's Olimpico Stadium has been selected as the venue for the 2003 UEFA Cup final.

Following the meeting, UEFA president Lennart Johansson also confirmed that the format of the Champions League will not change for the next four seasons beyond the current campaign.

His statement followed speculation that the tournament's format was set for a revamp, with straight knockout stages following the first group stage.

But UEFA decided against the reform following consultation with clubs anxious about the prospect of losing out on revenue.