From The Times:
Manchester United have sold more than £1 million of hospitality services related to seats in Old Trafford that do not yet exist. Club executives have placed about 15 per cent of the new facilities with existing customers a month before the formal marketing exercise.
The new executive lounges and boxes that can accommodate 16 people, more than double the number that can fit in the existing boxes, will be ready for the start of the 2006-07 season. David Gill, the United chief executive, will draw encouragement from the sales figures after the highly leveraged £800 million takeover of the club by Malcolm Glazer, the American billionaire, and his sons.
The success of their business plan depends on the ability to increase commercial revenues at the club by 76 per cent by 2010. Many analysts have doubted their ability to substantially improve operations at a club widely acknowledged as the most commercially successful in the world.
The £40 million upgrade of the sold-out stadium will increase capacity by 7,800 to 75,600 by filling in the northwest and northeast corners.
"These figures show that there is an appetite for what we believe will be the best facilities in football. To have sold so many seats just weeks after the building work has started is great news," Karl Evans, the venue director, said.