Woodward has proven Man Utd will continually make money and ‘don’t have to win’

Ed Woodward has proved to Manchester United that they do not need to win trophies in order to make bags of money.

Ole Gunnar Solskjaer saw his side go on an amazing run in recent weeks, not losing a match since their defeat to Arsenal on November 1.

However, after facing Manchester City in the Carabao Cup semi-final, they were beaten.

It is the fourth semi-final the Red Devils have lost in a row in a 12-month period.

Last season, United were sent packing in the FA Cup, Europa League and the Carabao Cup by Chelsea, Sevilla and City respectively.

Since Sir Alex Ferguson's retirement, the Old Trafford outfit have seen their trophy count decrease dramatically.

They have not won the Premier League since 2013, though they have collected a handful of cups over the seasons.

But the drop-off in form has not hit the club's books too hard and they are still in the three top richest teams in the world.

And football finance expert Kieran Maguire believes Woodward is not overly concerned with the efforts on the pitch, as long as the revenue streams are still flying.

“Manchester United finishing 3rd last year, from a financial point of view, was actually very good,” he told Football Insider.

“It ties in with Ed Woodward’s comments when he says ‘we don’t have to be successful on the field to be successful commercially.’

“Sometimes you get a brand which transcends the sport.

"Think about Tiger Woods, he is the biggest draw and golf but he isn’t winning all the time. The same goes for Ronnie O’Sullivan.

“Manchester United have become that sort of institution because they sell so many column inches.

"They generate interest. Even when they have a crap season, it generates as many column inches as when they are successful.

“So they are now in a position where they will continue to be commercially successful because everyone has heard of Manchester United.

"That will continue because they have embedded themselves so significantly in global culture.

“A lot of the people that talk about them don’t even know if Manchester United are 3rd or 4th in the table, because Manchester United is a brand in its own right.”

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