He is the Glazer’s poster-child; the man who masterminded the family’s 2005 leveraged takeover of Manchester United and has executed on the Americans’ vision of a globally sponsored brand. Yet, all is not well with Ed Woodward, United’s executive vice chairman – the man who has led the club into the most troubling period in a generation.
United finished seventh in the Premier League last season and to compound supporters’ growing frustrating Woodward has seemingly struggled to strengthen the club’s squad this summer. Despite spending some £80 million on Ander Herrera, Luke Shaw and Marcos Rojo, star names have failed to appear, beaming, before the Manchester press pack holding a Red scarf aloft. It has left hollow Woodward’s hubris about United’s supposedly awesome financial power.
Indeed, with a little over a week before the transfer window closes it is hard to characterise United’s squad as stronger than the one David Moyes left behind at the end of last season. Not least after eight, mostly experienced, players departed Old Trafford this summer: Ryan Giggs, Rio Ferdinand, Nemanja Vidić, Patrice Evra, Alexander Büttner, Anders Lindegaard, Bebé, and Nani.
It was a similar story of failure in the transfer market last year, with the club humiliated by a series of failed bids for big-name European stars. Woodward then oversaw the farcical £27.5 million purchase of dud Marouane Fellaini – and for £4 million over the player’s buyout clause fee. Little wonder Woodward has become the butt of supporters’ contempt. Many, most perhaps, have begun to characterise the former JP Morgan banker as inept and naïve.
On the positive side Woodward has overseen a massive increase in United’s commercial revenue, including a £750 million 10-year kit deal with adidas that is the world’s most lucrative. The executive’s strategy has so vastly increased United’s enterprise value that the Glazer family will extract around $200 million from the sale of shares in New York before the summer is out. He is seemingly untouchable in the top post.
Yet, to paraphrase Sir Matt Busy, it is on the pitch that supporters would rather see money spent – a cause in which Woodward has failed more often than not. Should the Essex-born executive fail to secure further players before the window closes Van Gaal will be left with fewer resources than he contemplated when accepting the job in June.
While Woodward has seemingly excelled in delivering new revenues from brands desperate to be associated with the club, he has failed to replicate those riches on the pitch. It leaves an obvious question: