London Edition Tuesday 25 August 2026
Football Economy The Business of the Beautiful Game
THE DESK
BVB.DE 3.03 +0.83% JUVE.MI 2.16 +2.18% SSL.MI 1.69 +0.6% AJAX.AS 8.44 +0.71% CCP.L 248.00 +0% MANU 23.53 +3.02% SLBEN.LS 6.96 +2.79% FCP.LS 3.00 +0% SCP.LS 0.96 +0% Football Daily | Two goals, some polish and a rebrand: City flip Sávio for quite the profit The Guardian Leeds and Rangers co-owner jailed after prostitution arrest BBC Sport How does prize money work in the EFL Cup? BBC Sport Leeds and Rangers co-owner York arrested Sky Sports Tuesday briefing: Tottenham deal for Levy’s Enic stake remains incomplete Off The Pitch Poulter undecided about LIV Golf future Sky Sports San Francisco 49ers owner Jed York pleads no contest after arrest at Ohio trailer park The Guardian Football Daily | The Premier League soap opera is back – and Spurs are already hogging the narrative The Guardian Was Fifa able to sack senior exec Lamour without consequences? A lawyer explains City A.M. Amorim’s Milan live up to billing as teenage star Cissè upstages signings | Nicky Bandini The Guardian EFL and Scottish league pushing to stop illegal broadcast of matches in Russia The Guardian Barclays WSL and WSL 2 Fantasy Game now live, developed in collaboration with SI SportsPro
From the Record

Glazer family business plan for United requires success on the field

First reported 6 November 2005

The Glazers’ finely balanced business plan, initially described as ‘potentially damaging’ by the then United board, was based on a series of performance forecasts. These included an assumption that the team would reach the knockout stage of the Champions League every season and the quarter-finals every third year. This was not so different from the target set before the takeover, but that was at a time when the club was free of debt and more financially flexible. Glazer and his sons borrowed an initial £374m from the banks to acquire the club. If United do not get out of group D, they will not get the £1.1 million bonus given by Uefa to the last sixteen in the competition, nor will Old Trafford host any more lucrative clashes with European clubs this season. United would also earn less of the pool money allocated to participating clubs. It was also assumed that they would finish at least third in the Premiership each season. The nightmare scenario is if they fail to finish in the top four and miss qualification for the Champions League next season. This is not something United have faced since 1995 and it would cost the club in the region of £10 million. There is a risk of United’s decline becoming a vicious cycle. Stars could go elsewhere and so could millions of United’s foreign followers, taking their money with them. Fans in Shanghai are not necessarily aware that Manchester is an English city and their attachment to the club is fickle and success based. The consultancy FutureBrand has estimated that 30 per cent of non-European supporters follow a team because of certain players. United’s money-raising tour of the Far East this summer was played out to surprisingly small crowds. Last month it officially ceased to be the world’s richest club, after eight years on top, when Real Madrid reported its annual income had risen to £275.7m, driven largely by income from sponsors and merchandise. Questions are being asked about Coach Ferguson and his ability to build a third great United team, but the Glazers would be reluctant to sack him. Incidentally, they won’t be at today’s crucial match against Chelsea as another of their franchises is involved in an American football match.

More from the Record 2003–2009 →