Source:REUTERS/Lee Smith
[Saba Sports News] Former Olympic champion Sebastian Coe, who is set to become the chairman of the Old Trafford redevelopment project’s development company, recently attended an investment summit in New York hosted by the British Consulate General at Rockefeller Plaza. As head of the stadium special task force, he actively promoted the project to Wall Street investment banks and American financiers. The plan includes building a modern stadium that can hold 100,000 people, which will cost a huge sum of £2 billion. Although Manchester United is confident they will secure public funding for the overall redevelopment around Old Trafford, they still need significant private investment to support the stadium construction itself. The editor believes that the US is a major sports market, and Manchester United’s move to the US to seek investment will further enhance its visibility and influence in the American market. It can help expand commercial partnerships, attract more American companies as partners, develop more merchandise, and thus expand the club’s commercial footprint and generate more revenue.