Isn't this a 1970s view of sponsorship?
Isn't it more to do with global brand awareness, these days? You think Standard Chartered want a load of scallies to open accounts with them? You think TeamViewer are expecting United fans in Asia to start installing their software?
No, they want exposure for their brand to all football fans all over the world and that means as much exposure as you can get. More matches on TV, further in competitions, winning trophies. You know the way to judge that? Not on the number of Twitter followers or "fans" or history, but on current broadcast income. More games, more success equals more broadcast income.
Look at the ratio of our commercial income to broadcast income compared to other clubs and you will see it is understated, not overstated. Liverpool are also understated. United, Real and Barcelona are bang in the median.
Bayern and PSG on the other hand ....