The formation of the group was announced last month, with the objective of developing a world-class football stadium and regenerating the local area.
Lord Coe, former Chair of the organising committee for the 2012 London Olympics, was appointed chair of the task force, in which other senior figures include Andy Burnham, Mayor of Greater Manchester, Sara Todd, Chief Executive of Trafford Council, and United legend Gary Neville.
In posts on his own social media accounts this evening, Lord Coe said: "Yesterday, I chaired the first meeting of the Old Trafford Regeneration Task Force to kick off a conversation about how development of a world-class football stadium for the north of England can deliver social and economic benefits for the region.