Manchester United are finally set to open their gates for a TV series, but in a different way, as they’re set to be the subjects of a dramatic representation of the club’s history.
Man Utd fans would argue that the club is extremely dramatic, perhaps too much for its own good, in real life itself, so the need for a TV drama series is moot.
Still, it’s probably the best way to make money without opening the doors to a crew that films everything 24/7 for an “All Or Nothing” type series.
However, what this deal also does is shine a light on a £359m problem that is becoming increasingly hard to ignore, especially relative to the club’s competitors.
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Man Utd’s TV drama deal explained
The Athletic reported that United have signed a deal with Lionsgate to produce an episodic drama series in the style of “The Crown”.
It would take the viewers through the milestone chapters in the club’s illustrious history in the form of a dramatised representation instead of a documentary.
As a club, United’s story is not rivalled by many due to the numerous history-defining events and personalities who have no match even in the modern game.
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This is a smart way to monetise the United brand without providing all-access to a camera crew.
United in Focus spoke to GRV Media’s Head of Football Finance and Governance, Adam Williams, and he provided the necessary context on how it benefits the club
He said: “IP (Intellectual Property) is the badge, kit designs, player likenesses and so on that the club owns. That is a valuable commodity. If you license it to Lionsgate, you’re giving them permission to use it in exchange for a few million pounds.
“However, you need to be conscious of what you associate your brand with. Otherwise, you might make some short-term revenues but cheapen the brand in the long term and, by extension, hurt your ability to make commercial income.
“There will be conditions attached to the Lionsgate deal. I don’t think the drama they produce is going to be a particularly searing historical inquiry. It will probably be a bit of soft-soaping. So this is, I think, probably relatively risk-free for United.
“It will generate a lot of buzz, that’s for sure. I suspect it will do reasonably well, which would see United get more in royalties, according to the terms of the deal. But even in the event that it flops, United aren’t exposed in any real way.”
The “£359m” need to do these deals
The TV drama deal is the latest in a long line of projects by Ineos to improve income streams at a club which is burdened by debt.
To make matters worse, Ineos and Sir Jim Ratcliffe aren’t in a healthy financial position either, which makes it even more important that the club becomes self-sustaining.
Williams explains that the need to do these deals is due to the flatlining in revenue numbers and falling behind the rivals in the long run.
Man United’s rivals are overtaking them in the financial stakes
What does Sir Jim need to do to fix this MESS?
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He said: “There is a conversation to be had about United becoming a monument to themselves. Sponsors pay to be associated not just with current successes but also the club’s history, and that’s why they still generate £300m-plus in commercial income per season despite being at a nadir in terms of on-pitch success.
“But the flatlining we have seen in recent seasons proves that they can’t keep doing that forever. They are falling behind their rivals in the commercial stakes.
“While other teams are posting year-on-year commercial growth of 10-20 per cent, United have actually gone backwards when you adjust for inflation.
“If what they were earning in 2019 had simply kept pace with UK inflation, their annual commercial income would be £359m. But the actual latest figure we have is £333m.”
For a club that was effectively a money monster before the Glazers took charge, their handling of the club has led to a moment where United need to monetise every part of their being just to have hopes of breaking even, let alone turning profits.
These income streams are a nice bonus, but ultimately, on-pitch success drives the most demand.
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