Being the richest in the world but absent in Europe could be new low in Glazer era

This year’s Deloitte Football Money League saw Manchester United drop to third place in the list of football’s most financially-powerful clubs, behind Real Madrid and Barcelona. The litany of commercial deals that Ed Woodward signs were largely responsible for compensating for the club’s absence from the Champions League last season.

The club helps brands promote everything from films to noodles to laundry supplies, and there looks to be no end in sight. It has been reported by the BBC that 9.5% of the world’s population supports Manchester United, so it is not surprising to see a queue of prospective partners outside Old Trafford.

When you combine these partnerships with the new TV deal and the landmark £75m-a-year deal with kit manufacturer Adidas, it is very likely that the club will rise to the top of the financial pile next season.

Deloitte’s Tim Bridge said in the Guardian: “The return to Champions League football, as well as the commencement of a number of significant commercial partnerships, will only strengthen the business in 2015-16. With this in mind, it would not be surprising to see United top next year’s Money League for the first time in 12 years, with the club forecasting revenues of around £500m.”

Yesterday’s financial results for the first quarter confirm that £500m is a realistic target, due to soaring commercial and broadcasting revenues. This has brought fresh scrutiny to the boardroom’s desire to improve performances on the pitch.

It is peculiar to consider that for the first time, the world’s richest club may not be in the Champions League. There is an air of scepticism around Woodward’s statement that “our solid results off the pitch help contribute to what remains our number one priority – success on the pitch.”

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Last year it was announced that the six children of Malcolm Glazer will be paid more than £15 million every year in dividends. The family have already made an estimated £230 million from share sales, despite the club’s debt remaining at over £400 million - a legacy of the controversial debt-laden takeover.

United have lost approximately £700 million to interest and other finance-related costs since the American family bought the club. Sir Alex Ferguson did a lot with a little for a club of United’s size in his later years but that wasn’t sustainable.

The Glazers appointed their money man, Woodward, as the one at the top of the tree, leaving a dearth of football intelligence in the boardroom. Consequently, there has been the signing of Marouane Fellaini for millions more than his release clause, accusations of incompetence from Madrid and a lust for marquee signings that don’t fit the manager’s plans.

It is the legacy of these Glazer-backed decisions that could see the club facing the relative ignominy of being the richest club in the world but nowhere to be seen in European competition next season.