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Can Ronaldo pay for himself?

Ronaldo certainly showed he can deliver on the pitch on Saturday, but what about the revenue side of the equation?  He will cost at least £50m or five per cent of United's projected revenues over the next two years.  The money could not be recouped through shirt sales or sponsorship deals.

The club is hoping for more intangible returns.   These include a belief that Ronaldo will raise standards in the team, excite fans who protested against the club's involvement in the European Super League, and draw in a new generation of supporters.  With 340 million Instagram followers, it is believed he will attract younger and international audiences.

At Juventus commercial income rose from €143m to €175m during his three years at the club, but the Serie A side were starting from a lower base.  The marginal benefit for United is not so high.  United's commercial revenue was £279m in 2020.  It has already secured its biggest endorsement deals, such as a five year shirt sponsorship worth €275m with German tech group TeamViewer.   The vast majority of revenues from replica shirt sales is taken by Adidas.

Ronaldo's contract, like those of other United players, includes 'downside protections' such as wage cuts if the team fails to qualify for the Champions League.


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