The Manchester United money machine just keeps on rolling, with today's announcement that they are to join forces with American baseball club, the New York Yankees, in a bid to tap into the vast untapped soccer market Stateside. The two have formed a marketing partnership, with the Manchester club using the baseball giants' huge merchandising network to target existing and new fans in the USA and beyond.
The deal will provide a significant financial boost to the clubs already swelling coffers, and instil fresh fears amongst their Premiership and European rivals as they attempt widen the gap that has become increasingly obvious in recent seasons. But United officials insist the deal does not mean they are looking to abandon the Premiership and become a 'superclub' in a breakaway league.
Paddy Harverson, United's director of communications, told PA Sport today: "Manchester United are fully committed to the Premier League and domestic English football. There is no suggestion whatsoever that we are looking to leave the English game and join any kind of breakaway league."
The deal will also provide a valuable market for The Yankees, who until now have failed to capitalise on the lucrative European and Far East markets. They will use United's own vast network in Europe and the Far East to sell their distinctive merchandise to a wider audience. The teams will also share market information, develop sponsorship and joint promotional programs and sell each other's licensed goods.
Under the deal, David Beckham and Fabien Barthez will be paraded at the Yankee Stadium, with Yankees' El Duque and outfielder Bernie Williams visiting Old Trafford. "The YankeeNets are an icon sports organisation," Manchester United chief executive Peter Kenyon said at a news conference in New York. He added: "Their executive staff know the North American markets better than anyone. Soccer has developed dramatically in the US over the last 10 years and we believe there is a market for Manchester United content among football fans of all ages."
As a direct result of the news, shares in United went up 20p to 2333/4p - an increase of around nine per cent. United, worth a staggering £1billion, are already the richest football club in the world with revenue that dwarfs the rest of the Premiership and major European clubs like Barcelona, Real Madrid and Juventus. There are comparisons between United, who are chasing their seventh Premiership title in nine years, and the Yankees, who have won three of the last four titles - the World Series - and, in all, a record 26.
United's £1billion wealth is far in excess of the Yankees who are believed to be capitalised at around £400million. They are, however, the wealthiest baseball team in the United States. The company that owns the Yankees, YankeeNets, also controls the NBA's New Jersey Nets and ice-hockey side the New Jersey Devils.
Filed by Shane Murray
