Manchester United are terrible, even according to their own manager. Last season saw their worst ever performance in Premier League history.

But at the same time, according to Forbes magazine, they’re still the second most valuable football club in the world.

How is that possible?

Tim talks to Kieran Maguire, a football finance expert and the author of The Price of Football, to find out the secret of Manchester United’s financial success.

Presenter: Tim Harford Producer: Nicholas Barrett Series producer: Tom Colls Production co-ordinator: Brenda Brown Sound mix: Neil Churchill Editor: Richard Vadon