As rumors have surfaced aplenty across various media outlets speculating the causes of Moyes’ downfall and what exactly went wrong in his tenure at United, the club have appointed Ryan Giggs as their interim manager as they strive to look forward to the future.
Their underwhelming performances this campaign have led to a disappointing failure to qualify for the Champions League next season, as they are now well and truly mathematically out of reach of the Premier League top four, for the first time in 19 years, which has led to some concern about the direction of the 20-time title winners.
For a club of United’s size and stature, how costly would missing out on the Champions League be for their future and their brand image? How will they pick themselves up from the wake of their recent managerial departures—first Ferguson and now Moyes?
Let’s explore how Manchester United’s brand will be affected by missing the Champions League across three rough timescales: The short, medium and long terms.
So to fall from conquering England less than 12 months ago—and conquering Europe six years ago—to the prospect of regular Europa League football, or even no European action at all, will be a massive reputational dent: How can United keep up their global reputation if they’re not even continental?
In the wake of David Moyes’ sacking, Manchester United will miss out on a reported £50 million due to a failure to qualify for Europe’s elite club competition alone, according to Simon Goodley of the Guardian, who suggests that the same riches that are available to competing clubs will serve as a double whammy on top of United’s losses, considering their debts.
Goodley’s comparisons of United’s current situation with Bayern Munich’s in 2007—that they would need to spend massively to improve their squad without European football in a bid to catch up with their competitors—led him to estimate a potential £100 million summer outlay in transfer fees alone.
Which doesn’t include the wage expenditures for their high-earning star players and the considerable compensation that Moyes and his staff will no doubt fight for.
Make no mistake: As United count the costs of missing out on the Champions League, it’s not just to their reputation in the short term as a global sporting brand, but also a blow to their already shaky financial situation.
That United have splashed £64.6 million on just two signings will not be lost on any observers: If anything, it will serve as an “eyes light up” moment to the agents of United targets and a major obstacle for the club to overcome. A quick glance at Liverpool’s eye-watering spending in the summer of 2011 will make for a horrifying prospect for many a Red Devil fan.
But besides the playing staff that have been the public face of United, both on and off the field for better or worse over the years, the figurehead that leads them to silverware and sustained success will need to be appointed as well.
The bullish nature and at-times extraordinary proclamations of Sir Alex Ferguson all added to the Manchester United aura and myth, which were almost instantly shattered by the defeatist and pessimistic utterances of David Moyes, who also oversaw the transformation of Old Trafford from a home fortress into a cauldron of fear.
They messed up a managerial appointment once; they can’t afford to do it again.
Any new manager arriving at Old Trafford would be walking in a dressing room, while needing the injection of some much-needed fresh blood, still featuring some world-class stars, and operating within a commercial giant that is peerless in world football with a brand name that still resonates around the globe. Any comparisons with Liverpool’s dramatic downfall are as a result premature and naive, as the Anfield club have only recently caught up on the commercial side of things, whereas United were pioneers at building a commercial enterprise.
But while United fans shouldn’t panic at the current state of their club, even if the Champions League anthem won’t be playing at Old Trafford next year, they will realize that the club will only be able to bounce back—and the club officials will realize its brand power will only be fully realized—if they overcome a potentially significant short-term hit and approach their rebuilding job correctly.
Because if they don’t do it right, the Manchester United brand, which has been built so strongly over the years because they have become synonymous with success, will wither as a result of their on-field disappointments.
It’s imperative that they get it right this time, before it becomes a vicious, self-defeating cycle.
This article first appeared on Bleacher Report.