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Analyst, TSN Radio 690 Montreal

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London - As Jose Mourinho’s United suffer a second straight defeat this week, there was decidedly better news off the pitch as Manchester United PLC announced their latest annual report on Monday. Not good enough under Louis Van Gaal last season to make the 2016-2017 Champions League, the accounts statement revealed they were at least a match for Barcelona off the pitch.

The Old Trafford cash registers breaking through the £500m [$850m] barrier for a very first time, with the Spanish giant revealing in the summer they had ascended that financial milestone making them the very first club on planet futbol to do so. When all was said and done, the only true giant of English football had raked up an astronomical £513.5m [$873m] in annual revenue for 2015-16. To put that figure into a clearer perspective, the previous season revenue settled at £395.2m [$670m].

Following Monday’s announcement, Edward Woodward, the man tasked to run the club by the Glazer family commented, “Our record Fiscal 2016 financial performance reflects the continued underlying strength of the business and the Club is on target to achieve record revenues in 2017, even without a contribution from the Champions League.”

Not only does Manchester United expect revenues to grow this season, expectation is for a minimum of £530m [$900m], the business is now on such a sound footing it is completely insulated against failure this season to not make next season’s Champions League. Old Trafford’s $250m-plus investment in the summer transfer window doesn’t speak to a club that is content to merely retain their FA Cup as Manchester United look to finally return to the glory days, and major trophy winning ways  which were the hallmark of Ferguson’s tenure.

The Glazer family, who took control of the club in May 2005 after paying £790m [$1.4 billion] for a business which at the time was a publically traded company listed on the London Stock Exchange,  are the major beneficiaries as revenue for all Premier League clubs now straddles a different orbit that any other domestic soccer league on the planet.

In late summer 2012, the Glazer’s floated 10 per cent of Manchester United PLC on the NYSE at the initial public offering price of $14.00. Although not performing well over this four-year time span, however, following yesterday’s close at $17.20 reflects a market cap of $2.82Billion [$3.66].

In effect, during their 11-plus year custodianship of one of the most storied franchises in all of world sport the Glazer Family has seen their initial investment increase in value by well over 150 per cent.  Back in spring 2005, financial experts in the City of London [London’s Financial District] were of the majority opinion the owners of the Tampa Bay Buccaneers had paid too hefty a premium on the price to what all intents and purposes was a hostile takeover of OId Trafford.

A significant number of season ticket holders and supporters have not ever truly accepted the Glazer family as owners of their deeply cherished club. Maintaining their business model and methods go completely against the so termed ‘Manchester United Way’ which was ingrained in every pore and aspect of Old Trafford during the Sir Matt Busby era half a century ago.

Busby is the legendary manager who led Manchester United to their very first European Cup triumph in 1968 just a decade after the horrors of the Munich Air Disaster which claimed the lives of 21 people, including seven players. Sir Bobby Charlton, who scored in that famous Wembley final against Benfica nearly 50-years ago, is still at the club today. Charlton serves in a director’s role, and without exception is one of the most influential members of the Old Trafford Boardroom. Apparently he was a dissenting voice when Mourinho was touted to replace Ferguson back in 2013.

Manchester United are far from being alone in reaching new financial summits in Premier League circles. This evening’s protagonists in the Friday night football match at Stamford Bridge are expanding their financial footprints.

Liverpool only last weekend unveiled their spanking new significantly enlarged main grandstand which now brings the Anfield capacity up to 54,000. Coming at a cost of well over £100m [$170m], with the addition of 8,500 new seats plus upgraded hospitality facilities Liverpool immediately receive a return on the investment for its construction.

No value can be put on the fact Anfield is still Liverpool’s home, after a decade and more where it seemed that any capacity increase was solely tied to the construction of  a brand new stadium.

Chelsea who host Liverpool this evening [Live on TSN3, TSN4 and TSN5 Kick off 3:00pm et / 12:00pm pt ] are in Stamford Bridge expansion mode themselves and currently have plans for a brand new 60,000 stadium within those fabled brick walls of Stamford Bridge. Abramovich will have to demolish the current stadium and will rebuild with bricks and mortar a brand new stadium, quite literally from the basement up. A regeneration of the immediate area in conjunction with local residents, commercial  and retail outlets, will see the cost of the project skyrocket towards the £600m [$1.02billion] all of which will be privately funded by the Chelsea owner.

Other clubs looking to expand their domestic financial wherewithal include Tottenham and Everton who both hope to move into brand new enlarged and upgraded stadiums over the coming years. Tottenham are playing their Champions League matches at Wembley this season as work on their new stadium situated adjacent to White Hart Lane has reduced capacity at their fabled north London stadium. A capacity 85,000 crowd attended Wednesday’s opening match. Spurs are investing £400m [$680m] in their new stadium which is expected to be ready for the start of the 2018-19 season.

As all Premier League clubs look up to, and can only hope to hang onto Manchester United’s coat tails financially, the Glazer family have likely set their eyes firmly on a different prize all together. The owners of the Tampa Bay Buccaneers only have to look due west to the Cowboys.

This summer, Forbes magazine crowned the team that Jerry Jones built as the most valuable franchise in all of world sport, in doing so dislodging Real Madrid from top slot. The Dallas Cowboys were valued by Forbes in July at a mind-boggling $4 billion, or $5.2 billion Canadian.

Poor old Manchester United knocked from their podium perch in to fourth spot, Forbes valuing the greatest club side in the history of English soccer at $4.3 billion. However, if I was a betting man, and especially as the Premier League expands its global footprint at the relentless pace it has in most recent years, watch this space Mr. Jones.