Do Manchester United still need the Champions League?

Give their failure to qualify for Europe, the club estimate its revenues to fall back to the region of £385-£395 million next year, contingent on their finishing in the top three this year.

But even in such a case, United's books will still make for better reading than the rest of their English rivals.

The Reds recorded pre-tax profits of £40.5 million for the year, compared to hefty losses at Chelsea, Liverpool, and Manchester City.

And while the team's fans may have written off last season, United's ability to attract bumper commercial deals over the course of 2014 have largely been responsible for the investment in players this summer.

A record-breaking £750 million kit manufacturing deal with Adidas puts United at the top of the tree in world football (above).

The Reds have also bumped up their commercial revenues by over 50pc, due in large part to a deal with American car-makers Chevrolet who adorn their shirts this year.

The only chart that fans care about...

But commercial successes will do little to mollify Manchester United's fans, estimated to number around 660 million globally.

The side's 25-year dominance of English football came to a crashing halt last season, and any prolonged absence from Europe's elite competition will eventually be felt on its long-term financial health.

This summer, the Reds have been forced to splash out over £150 million on new acquisitions, as well as hiring a new manager. Should they fail to qualify for the Champions League for the next two seasons, the £75 million-a-year deal with Adidas would also be reduced.

It's all new terrain for a club that has thus far proven very economically efficient, winning a total of 18 trophies between 2003 and 2014, at an average of £32.7 million per trophy.

This compares to a whopping £144.8 million outlay for their neighbourly rivals Manchester City whose five major trophies have come at the cost of £145 million. Chelsea, who began the era of mega spending in English football when they were bought by Roman Abramovich in 2003, have won 13 trophies at an average cost of £67.2 million.

The club's majority owners, the Glazer family, have been criticised for prioritising profit over prestige on the pitch. But Manchester United will now have to spend big just to compete. And the first task facing new boss Louis van Gaal will be to get them back at Europe's top table.

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