In modern football, there is a fine line between ensuring high performance on the pitch as well as being financially profitable off it.
Manchester United is an example of a club which has potential to be successful in both spheres. However, lack of performance on the pitch in recent years has led to greater scrutiny off it.
While there have always been critics of the Glazers' handling of the Reds, voices have grown louder against their ownership since the departure of Sir Alex Ferguson as manager as United slipped behind their rivals not only in the Premier League table but also in the boardroom.
Former Red Gary Neville has been a chief critic of the owners and in September 2022 he explained to FourFourTwo why he was sceptical of certain investors.
"This isn’t just about attacking nation states or American investment funds, which could be a big problem," Neville said. "We also have rogue owners at the bottom of the scale. We need a transparent and robust licence system.
ALSO READ: Who are Raine Group?
"There should be clear criteria where everybody knows what you need to be a fit and proper owner of an English football club. It’s not just a business on the street like Harrods, John Lewis or Uber where they invest Middle Eastern funds; football clubs should be treated differently, because they are too important to communities. If you own a football club, there should be a high level of expectation for those owners."
Neville's overall view is that football clubs should not be purchased by those who are solely looking to make a quick profit. Two months after that interview, the Glazers announced they were looking to either sell or explore further investment opportunities in United and chose to appoint the Raine Group to oversee the sale.
As quoted by The Times after the announcement, co-founder of Raine, Joe Ravitch said on the takeover: "United is not just a football club when it has such a huge global fanbase."
The sentence highlights Neville's concerns. Prospective buyers of United can see the advantage of the club off the pitch, often at the expense of progress on it. Only the new owner of United can show for certain their intentions but it will be a key facet of the process as it edges towards a conclusion.
A Manchester Evening News special souvenir edition - Fergie's First - charts United's 1992/93 title-winning campaign and you can get your hands on one here