Champions League failure puts pressure on Ferguson as United’s debts mount, says rob bagchi
|
 |
|
|
|
In his 19 years as manager of Manchester United, normal standards of scrutiny have not applied to Sir Alex Ferguson. In transforming a moribund institution into consistent contenders for success, he has been able to dictate the terms by which he is judged, ostracising all who have tired of the deference he has long taken for granted.
That era ended on Wednesday night, with United's defeat at Benfica. Malcolm Glazer, the club's Florida-based owner, must have been horrified to watch the inept display of Rio Ferdinand - the defender he was persuaded by Ferguson to make the highest paid player in British football history.
Of course the Glazers were not so naive as to base their business plan on the assumption that United would win the Champions League. Nonetheless, the club's failure to take even third place in their group
|
|
 |
|
|
- and with it a consolation berth in the UEFA Cup - must have provoked some disquiet in Florida. When the Glazer family borrowed £500m to complete their purchase of Manchester United in the summer, their vision was to complete the process begun by the club's former plc owners (who excised the words "football club" from the club badge because of their narrow and parochial connotations). Elimination from Europe before Christmas - for the first time in nine years, and losing at a stroke a possible £15m in revenue - was not on the agenda.
The club was said to have lost its soul when it was bought by the Glazers. Such losses are of negligible interest to accountants, but since the purchase United have lost commodities of far greater value to the Glazers - form, discipline, a talismanic captain and a Vodafone contract worth some 
|
