MANCHESTER UNITED AND TOTTENHAM SET TO TRIGGER HUGE £1B N WINDFALL, IT'S NEVER HAPPENED IN PREMIER LEAGUE BEFORE

The Europa League final between Tottenham and Manchester United is already rich with narrative – and the finances behind the clash in Bilbao are far, far bigger than just UEFA prize money.

For Tottenham, who have the chance to end a 17-year silverware drought, it could turn a season which has been historic for all the wrong reasons into one that will be cherished by fans forever.

For Manchester United, finals are usually about glory, but this one is more about saving face.

It’s a remarkable lifeline for both clubs, who have each failed to reach the 40-point mark in the Premier League that has historically been the benchmark for avoiding relegation.

Europa League final: Champions League qualification cash is just the start for Spurs and Man United

By now, readers will be well aware of what is at stake financially in terms of Champions League qualification, which winning the Europa League delivers.

Before a ball is kicked in next season’s Champions League, whoever wins the 2024-25 Europa League final will have earned more than £50m from UEFA, with performance-related bonuses taking potential winnings north of £100m. The new 36-team format is extraordinarily lucrative.

Photo by Alex Caparros – UEFA/UEFA via Getty Images

Incidentally, UEFA introduced the NEW model to placate former Super League clubs, including Spurs and the Red Devils, who have consistently lobbied for more money-spinning European fixtures even if for Ruben Amorim and Ange Postecoglou the rigours of a bloated matchday calendar are a fitness headache.

This is the reality of football finance, however. It’s the same system that allowed Tottenham and Manchester United to spend a combined £922m on their squads last season.

Winning the Europa League would carve out precious headroom under Profit and Sustainability Rules (PSR), which Sir Jim Ratcliffe needs to rebuild the club and justify his brutal programme of job cuts and price rises since INEOS became United’s largest individual shareholder last year.

Photo by Ash Donelon/Manchester United via Getty Images

For Daniel Levy and ENIC, the final at San Mames is as much about their legacy in North London as it is about finance.

But while Spurs have no PSR issues, real-world cash is another matter.

Under their self-sufficient ownership model, the guarantee of Champions League revenue next season would be a game-changer in respect of their ability to compete in the transfer market.

Photo by Robin Jones – AFC Bournemouth/AFC Bournemouth via Getty Images

And, as the latest analysis from TBR Football shows, the ripple effect from the Europa League final will be felt well beyond San Mames, the Tottenham Hotspur Stadium and Old Trafford.

Manchester United and Tottenham set to see Premier League smash £1bn financial record

Matchday income is cool again.

For years, the narrative among fans – and indeed in some boardrooms – was that the money that clubs generated through the turnstiles was insignificant compared to TV revenue.

However, Tottenham were ahead of the curve when they built their new stadium in N17 as Premier League clubs are turning to matchday income once more to give them a competitive financial edge.

Manchester United, of course, are planning perhaps the most ambitious stadium build in football history, with a new build near the existing Old Trafford expected to accommodate 100,000 fans.

Last season, Premier League clubs generated £922m through the turnstiles.

Given that the Man United vs Tottenham Europa League final guarantees that there will be six teams in the Champions League next season and, after Crystal Palace’s FA Cup triumph over Man City, at least nine teams in Europe in total, that figure will rise again next season.

Both Tottenham and Man United would expect to break their single-season matchday income records of £137m and £118m respectively.

Everton meanwhile are expected to almost triple their matchday income at their new stadium, while Leeds United’s promotion means there is another big-ticket club in the Premier League.

Combined with dozens of extra matches for Premier League clubs in Europe, total matchday income across the division will surpass £1bn for the very first time.

Europa League triumph will transform summer transfer window for Spurs or Red Devils

Given that either Spurs or Man United will get £50m-plus in extra revenue next season, the winner of the Europa League final will go into the summer transfer window on much surer footing.

After woeful seasons, both clubs need funds to strengthen. Without the guaranteed UEFA money, that would likely mean far more player trading, as opposed to concentrating on incoming transfers.

Spurs are 100 per cent guaranteed to pass both the Premier League and UEFA’s PSR assessments for the current campaign.

PSR infographic. Credit: Adam Williams, GRV Media

Man United will be closer to the line but are also expected to be ultimately okay.

But with liquid cash at a premium in both N17 and M16, the security of Champions League income would change everything ahead of a crucial window.

- Adam Williams

ERIK TEN HAG WILL REMAIN UNITED BOSS, BUT FOR HOW LONG?

ESPN sources have confirmed that that Erik ten Hag will stay on as Man United manager, but has the damage at Old Trafford already been done? Martin Rickett/PA Images via Getty Images

 Following an extensive end-of-season review lasting more than two weeks, new co-owner Sir Jim Ratcliffe and INEOS director of sport Sir Dave Brailsford have reportedly concluded that Erik ten Hag is the right man to be Manchester United manager. For now.

But there's no escaping the fact that the Dutchman has been made to wait more than three months for any real show of support. Ratcliffe's deal to buy a 27.7% stake in the club was ratified in February and, since then, the British billionaire has danced around the subject of who should be United's manager. Even after winning the FA Cup following a thrilling, if surprise, 2-1 victory over Manchester City in the final, Ratcliffe's interaction with Ten Hag was limited to a firm handshake. Pep Guardiola, City's manager, got a full-on hug.

Since Wembley, there has been nothing but silence.

It's Ratcliffe's mantra that "you should always walk towards the right solution rather than run to the wrong one," but for 16 days United have been stuck in stasis. Late on Tuesday, sources told ESPN that, with the review finally concluded, Ten Hag would stay on as manager. Club sources insisted it was the "clear conclusion" and hinted that a contract extension could be on the way.

But that ignores the fact that United have had serious reservations about whether to continue with the former Ajax Amsterdam boss. Brailsford made his own doubts clear by sanctioning conversations with other candidates before the end of the season. Thomas Tuchel, Mauricio Pochettino, Thomas Frank, Graham Potter, Kieran McKenna and Roberto De Zerbi were all sounded out in one way or another with news leaking out in the week before the cup final.

It prompted one report on the eve of the final that Ten Hag would be sacked regardless of the result against City, but at no point did United contact the Dutchman's representatives to play it down. On the back of probably his biggest win as United boss, Ten Hag was defiant in the Wembley press room saying that if the owners "don't want me, then I go somewhere else to win trophies because that is what I do."

There were moments in his post-match news conference where you felt his frustration reaching boiling point, but it was directed as much at Ratcliffe and Brailsford as it was towards the reporters asking the questions. The issue now is what happens next?

Ten Hag will, in some form, be involved in United's summer transfer business and begin the new campaign as manager. But after harbouring so many doubts, it's easy to see a scenario where INEOS makes a change at the first sign of trouble next season.

It opens up the possibility of appointing Gareth Southgate, who hasn't wanted to engage in talks about other jobs while he focuses on leading England at Euro 2024. The timing of appointing Southgate this summer never worked with United set to play their first preseason friendly against Rosenborg in Norway on July 15, just 24 hours after the Euros final.

Southgate has been vague about his future beyond the tournament in Germany and his contract with the FA runs out at the end of the year. A poor run of form early in the season could easily cost Ten Hag his job and approaching Southgate in September or October is a far easier task than trying to do it while he's preparing for a major tournament.

Brailsford and incoming sporting director Dan Ashworth are both big fans of Southgate, but he hasn't managed a club side since being sacked by Middlesbrough in 2009. He's done well with England, reaching the semifinals of the World Cup in 2018 and the final of Euro 2020, but there would likely be outcry among fans if he turned up at Old Trafford.

News of Ten Hag's survival on Tuesday felt more like a stay of execution rather than a rubber-stamped approval. Ten Hag will hope that he's proved right and that with a fully fit squad, results pick up and he's able to secure his future with positive performances and results on the pitch. Until then, though, his future will stay on a knife-edge. Every early-season set-back will be followed by questions about his future while the shadows of out-of-work managers like Southgate, Tuchel, Potter, Pochettino and De Zerbi will hover ominously in the background.

United's form has dipped significantly since winning the Carabao Cup in February 2023 -- they have lost more than a third of their 74 games since beating Newcastle United at Wembley and finished eighth in the Premier League last season -- and Ten Hag will need an upturn in results quickly if he's going to completely expel the doubters.

Club bosses insisted the decision on Ten Hag's future brought "clarity" to the situation, but in reality it does anything but. Ten Hag is the manager for now and that's all. It could yet be a very short reprieve.

- Rob Dawson, Correspondent

MAN UNITED YET TO DECIDE ERIK TEN HAG'S FUTURE - SOURCES

 

Erik ten Hag has won two trophies in his two seasons at Manchester United. (Photo by Martin Rickett/PA Images via Getty Images)

Erik ten Hag is being made to wait before learning whether he will continue as Manchester United manager, with sources telling ESPN that a decision on the Dutchman's future is not expected imminently.

Co-owner Sir Jim Ratcliffe and his INEOS team have started an end-of-season review which will look at every aspect of United's performance this season.

It will include a focus on whether Ten Hag, who has a year left on his contract, should stay on as manager or be replaced.

A source has told ESPN that INEOS reviews led by director of sport Sir Dave Brailsford in other sports have typically taken around four days to complete, although United insist there is no time limit.

Ten Hag strengthened his case to stay on as United boss by lifting the FA Cup on Saturday with a surprise 2-1 win over Manchester City.

But he began a holiday on Sunday still in the dark about whether he will keep his job.

Doubts about his suitability for the role have led INEOS to sound out potential replacements including Thomas Tuchel, Mauricio Pochettino, Thomas Frank and Kieran McKenna. A source has told ESPN that McKenna is now set to stay at Ipswich Town. United also hold an interest in Gareth Southgate and Roberto De Zerbi.

Ten Hag is under pressure after a miserable Premier League season which saw United finish eighth -- their lowest placing in England's top-flight since 1990.

United also finished bottom of their Champions League group as they exited European competition before Christmas.

Sources have told ESPN that INEOS have not ruled out starting next season with Ten Hag in charge, although sources close to the 54-year-old believe he could still be sacked after failing to get a cast-iron guarantee from either Ratcliffe or Brailsford following victory over City at Wembley.

The decision has been made more complicated because INEOS are still waiting to complete their football leadership team.

New technical director Jason Wilcox has arrived but new CEO Omar Berrada is on gardening leave from Man City and is not expected to start until July 13. Incoming sporting director Dan Ashworth is still on gardening leave from Newcastle United.

- Rob Dawson, Correspondent

INEOS 'WANT TO WORK WITH ME ' - MAN UNITED BOSS TEN HAG

Erik ten Hag will meet with INEOS in the coming days and weeks. Photo by Martin Rickett/PA Images via Getty Images

Manchester United manager Erik ten Hag has not spoken to INEOS after chairman Sir Jim Ratcliffe acquired a 25% stake in the club, but said the new investor wants to work with him.

United confirmed the deal -- worth around £1.3 billion ($1.6bn) -- on Sunday, with Ratcliffe also intent on investing further $300 million into the club to "enable future investment into Old Trafford." He will also take responsibility for football operations at United.

Ten Hag said the move is positive for the club, and hopes to meet with Ratcliffe and INEOS in the coming weeks.

CAN BRAILSFORD MASTERMIND NEW CYCLE OF SUCCESS AT MAN UNITED?

Reuters 

Amidst the euphoria of Manchester United's stunning 3-2 comeback victory over Aston Villa on Tuesday, one figure sat calmly in the Old Trafford stands processing what had just occurred.

A sizeable majority of supporters in the stadium might not even have recognised Dave Brailsford. But over the coming months he is likely to become a familiar figure.

While INEOS founder Jim Ratcliffe's 25% acquisition of the 20-times English champions will not be officially signed off until early 2024 -- former kingpin of British cycling Brailsford will be scheming about what needs to change at a club that has been in steady decline since Alex Ferguson retired.

Fans might well ask why Brailsford, the brains behind Britain becoming a cycling powerhouse and who made INEOS Grenadiers (formerly Team Sky) multiple Grand Tour champions, would be entrusted with one of the biggest challenges in soccer.

After all, the 59-year-old, who Ratcliffe made INEOS's Director of Sport, has no obvious background in the sport.

Brailsford's "marginal gains" manta turned British cyclists into winning machines and while he took on a technical role with INEOS-owned French Ligue 1 club Nice in a bid to take on the Paris St Germain, the jury is still out on his impact.

United fan Ratcliffe, whose 25% purchase plus investment of $300 million will give him control of football operations, has been tight-lipped about who will do what in the new regime.

WHAT IS ON RATCLIFFE AND INEOS' TO-DO LIST

Sir Jim Ratcliffe and his company will have some influence over the football side of the business now the investment deal is complete. Photo by Peter Byrne/PA Images via Getty Images

After months of negotiations, British billionaire Sir Jim Ratcliffe (chairman and CEO of chemical company INEOS) has finally completed a deal to acquire a 25% stake in Manchester United for around £1.25 billion ($1.6bn).

Sources told ESPN's Rob Dawson that the deal will give Ratcliffe some influence over the football side of the business, with Sir Dave Brailsford, director of sport at INEOS, expected to be heavily involved. But United's unpopular American owners, the Glazer family, will keep their majority shareholding after they rejected bids for a full takeover worth around £5bn from both Ratcliffe and Qatari businessman Sheikh Jassim Bin Hamad Al Thani.

Sources added that Ratcliffe is ready to invest funds to improve both the Old Trafford stadium and Carrington training ground, but what should the focus be now the paperwork has been signed?

In a 25-year career, ESPN's Tor-Kristian Karlsen has worked at a number of clubs in a variety of countries including England, Germany, Russia, France, Israel and Norway -- in roles such as chief executive, sporting director, chief scout -- and is well qualified to answer that question. So here's his to-do list for Ratcliffe and the United hierarchy.

MANCHESTER UNITED ANNOUNCES DEAL TO SELL UP TO 25% OF EPL CLUB TO UK BILLIONAIRE JIM RATCLIFFE

AP Photo 

MANCHESTER, England (AP) — After failing to win the Premier League in the last 10 years, Manchester United announced Sunday that it had agreed to sell a minority stake in the storied club to Jim Ratcliffe in a deal that would also see the British billionaire and boyhood fan take control of its soccer operations.

“We all want to see Manchester United back where we belong, at the very top of English, European and world football,” Ratcliffe said Sunday.

The record 20-time league champions have not won the title since former manager Alex Ferguson retired in 2013, prompting increased anger toward the Glazer family, United's American owners.

The announcement of a deal came more than a year after the club was put up for sale.

Ratcliffe, who owns petrochemicals giant INEOS and is one of Britain’s richest people, has secured a stake of “up to 25%” in United and will invest $300 million in its Old Trafford stadium.

Ratcliffe will provide $200 million upon completion of the deal and a further $100 million by the end of 2024, United said. In total the deal will be worth around $1.6 billion, including the $300 million of funding.

The deal is subject to approval by the Premier League.

EXCLUSIVE: MANCHESTER UNITED NEGOTIATING EXCLUSIVELY WITH QATAR'S SHEIKH JASSIM IN $6 BILLION-PLUS SALE TALKS

English football club Manchester United (MANU.N) is negotiating granting exclusivity to the consortium led by Qatar's Sheikh Jassim bin Hamad al-Thani in the talks to sell itself for more than $6 billion, people familiar with the matter said on Thursday.

Members of the Glazer family, which own minority stakes in Manchester United and control it thanks to a dual-class share structure, would be cashing out as part of the proposed deal, one of the sources said.

The Qatari offer is currently viewed by the Glazers more favorably than a bid from British billionaire Jim Ratcliffe, founder of chemicals producer INEOS, the sources added. Ratcliffe's offer envisions that the Glazers would keep some interest in Manchester United.

SIR JIM RATCLIFFE-INEOS MAKE BID FOR MANCHESTER UNITED