The 1–0 defeat at Champions League-chasing Nottingham Forest on Tuesday was the latest setback for Manchester United . This season has seen plenty for Ruben Amorim’s men. Defeat at the City Ground had United remaining in 13th, 36 points off leaders Liverpool and 20 points behind their conquerors, Forest. It has been a chastening campaign for the club, and not one that co-owner Sir Jim Ratcliffe would have envisaged when he took his 27.7% stake in the club back in December of 2023. It could yet be salvaged, of course, if United can win the Europa League this season, an achievement that would book their place in the Champions League next season, delivering lucrative revenues of likely some £100million that would speed up the transformation that Ratcliffe has planned. There is a £2billion plan for a new 100,000-seater stadium that offers real hope for the future, although funding it at a time of debt being expensive and the club’s revenue streams under pressure due in no small part to a lack of competitive success, won’t be easy. It would be simple to write this season off as another season of transition, as United move to a new manager with a new way of doing things, but with a squad that doesn’t have the pieces in place to execute that, and with an expensive legacy of overspending in the market on wages and transfer fees. This summer sees the club head to the United States as part of the Premier League ’s Summer Series, visiting New Jersey, Chicago and Atlanta. It will be a tour that, a year out from the 2026 World Cup in North America, be seen as an opportunity to strengthen and grow the club’s fan base in such an important and growing market, tapping into the ‘soccer’ boom. Ed Woodward, United’s former vice-chairman, once famously told shareholders that the club didn’t need competitive success to be a commercial success. That seemed to hold true for some time, but with the likes of Liverpool having surpassed their commercial revenues, and others like Arsenal closing in, does that still hold true, and how valuable is it for the club to make the most of taking the brand globally at such a time of competitive struggle? Speaking to the MEN, Neil Joyce, CEO of CLV Group, a company that connects sports teams with global fan opportunities, said: “I think with United they've got such a long-held established brand and awareness of who they are globally they are OK. Their fan base in the US grew by just under 10% a year still and that's coming from a pretty big standing start. “But there are absolutely still warning signs. Other clubs like Aston Villa, for instance, their growth of brand is increasing considerably because they're in the Champions League this year, and that is increased exposure in the US market at a key time. “What you've also got is the other alarm bell, and this is not just for United, it's actually for every football club irrespective of success, is trying to tap into that younger audience. That younger audience have grown up through video gaming and influencers not watching teams on TV or actually participating as well, so United potentially run the risk of not being relevant to that audience if they don't form a strategy that has to line up with some on-field success as well. “I think creativity in trying to find these audiences and nurture them is going to be really, really important for United. “I've got conversations going on with 10 of the Premier League clubs and the big European ones at the moment. I think about half of them have got actually somebody who's got a responsibility for the US strategy. And that's not just the commercial strategy of how they sell memberships and merchandise to US fans. It's more the wider market level strategy. We've seen the ones that are starting to really invest into having a specific market strategy are the ones who are growing their fan bases with lifetime value in mind, not just ‘we're in a Champions League this year, we're going to drive revenues by selling’.” While it is a project that remains some way off, Joyce believes that the potential that a new stadium will have for Manchester United will be hugely impactful as to what the financial situation will look like over the next 10 to 15 years, something that will be closely aligned with their ability to invest in success on the pitch. “Whether you like the design of the stadium or not it will be iconic if that overall program goes ahead in terms of what it becomes,” said Joyce. “It will be a draw card for Man United alone and their global fans will want to come and see it and spend money. “They are making a stadium that is a 24/7 entertainment venue. You can't think about media, sport and entertainment as silos anymore, you've got to look at them being very connected and being run in that fashion. “Everyone talks about the case study of Tottenham's stadium. They've got so much going on. They have the NFL there, they've got the Formula One experience, catering for lots of different people and interests. “They've opened up their exposure to global audiences, not just from visiting Tottenham Hotspur Stadium, but digitally tapping into all of that content delivery and the platform around it. “I think United, with no disrespect to Tottenham, they're so much bigger club and they've got a much bigger opportunity to grow their revenues. I estimate they could grow and match their revenue by 10 or 15%. I've spoken to others who think they could double it, and that's before you think about getting the next big thing to come and do a concert all the time for three nights running. “I think if I was a United board member, you'd be excited about those opportunities. I think you've got to balance it with giving back to the matchday season ticket holder fans if you're monetising other opportunities as well. “The reality is if the team is delivering on the pitch, that's the biggest way people start to forget about ticket prices. Obviously it's not good to raise ticket prices, especially when the team is underperforming, but ultimately you could argue United are under-priced ticket-wise when you compare it to other Premier League clubs. So it's a balance in that, so I understand their decisions on it.”