When will MU stop selling the past to hide the present?

Manchester United is still the most popular football team

In 2018, Ed Woodward, former executive vice-chairman of Manchester United, told analysts: “Playing performance doesn’t really have a significant impact on our commercial performance.” However, a string of poor results on the pitch since then has raised questions about that assessment.

Decline on the field causes business to slow down

Over the past six seasons, Manchester United's commercial revenue has grown by a combined 10%. Meanwhile, their two biggest rivals, Manchester City and Liverpool, have outpaced them and have dominated the Premier League, winning nine of the last 12 seasons since Manchester United's last title in 2013.

Even after finishing 15th last season and failing to qualify for the Champions League, Manchester United’s commercial income is on par with the world’s most successful clubs. Andy Green, chief financial officer of the Manchester United Supporters’ Association and head of investment fund Rockpool Investments, has warned that the club is “eating away at its past” to survive.

Manchester United have been on the decline lately.

As the new Premier League season kicks off, people like Green believe Manchester United need to make real strides on the pitch if they are to regain the ground they have lost off it.

In 2023/24, Manchester United will generate £302m in commercial revenue, compared to Liverpool’s £308m and Man City’s £349m. Since 2019, Arsenal, Man City, Chelsea, Liverpool and Tottenham have all grown their commercial revenues faster than Manchester United, albeit from a lower base.

New Ambitions Under Jim Ratcliffe

In 2024, petrochemical billionaire Jim Ratcliffe spent $1.6 billion to buy 29% of Manchester United, thereby taking control of the club's sports division. Despite the team's decline, he is still confident in the strength of the brand.

“Manchester United is on par with Coca-Cola and Apple,” Ratcliffe declared at the opening of the £50m refurbishment of the training centre. The new Norman Foster-designed facility includes an underwater treadmill and a “high altitude” simulator with adjustable temperature and humidity.

Since Sir Alex Ferguson retired in 2013, Manchester United have spent more than €2bn on players, with a net spend (minus player sales) of €1.7bn – the highest in the Premier League. Despite the public outcry over the drastic cost cuts, Ratcliffe has now given the green light to expensive deals.

In the summer of 2025, the club spent about 200 million pounds to bring in Matheus Cunha, Bryan Mbeumo and Benjamin Sesko, which is only behind Liverpool and Chelsea in terms of spending.

Still a brand but not forever

Manchester United continue to attract big corporations. Qualcomm extended its shirt sponsorship deal with its Snapdragon brand worth $75 million a year until 2029. Adidas also signed a 10-year deal worth around £900 million in 2023, although this season it will be deducted £10 million because Manchester United will not be in the Champions League.

Manchester United need to return to the Champions League soon

In the nine months to 31 March, the club generated £245.1m in commercial revenue, up 5.8% on the same period last year. Don McGuire, Qualcomm’s chief marketing officer, said: “There have been challenges, but we are committed to Manchester United. We believe they will get through it, and I am pleased with the steps they have taken.”

However, Green believes there is no “silver bullet” to help Manchester United replicate the spectacular growth rates of the Woodward era, when commercial revenue almost quadrupled to £200m in the decade to 2015.

A new stadium – costing at least £2bn – is key to unlocking new commercial income from sponsorship, according to those close to the club. But with the project yet to start, the closest chance of accelerating the club’s progress remains Champions League qualification.

Now that the "Red Devils" are only competing domestically, Ratcliffe and the Glazer family are betting that the new recruits will help coach Ruben Amorim improve his form.

However, Green warned: “The risk is that this spending will not be effective. If we cannot return to the Champions League, if profits do not improve, if revenue does not increase, then Manchester United will just accumulate more transfer debt that will have to be paid off in the next 3-4 years.”

Source: https://znews.vn/bao-gio-mu-thoi-ban-qua-khu-de-che-giau-hien-tai-post1578689.html