Just under 10 months ago, Ed Woodward spoke to investors on a Manchester United conference call. Woodward was speaking after United had lost 2-1 to Young Boys in the Champions League, but he was speaking just five games into the new season.
Ole Gunnar Solskjaer still had the unwavering support of the club, the good feeling around Old Trafford was tangible after the summer signings of Jadon Sancho, Raphael Varane and Cristiano Ronaldo, and United were expected to challenge for the Premier League title.
Ronaldo's return dominated headlines and the forward also dominated Woodward's conference call with investors. It was the first time Woodward had publicly spoken since Ronaldo's return and he clearly revelled in discussing the re-signing of the player. Ronaldo remains a marketing phenomenon and investors were keen to discuss the commercial opportunities his return would bring.