The battle to sign English football icon David Beckham has all the trappings of a corporate takeover saga, with clubs and sponsors vying to exploit Manchester United's most valuable human asset.
As a player, Beckham has helped lead Manchester United to six English premier league titles in eight years. As one of the world's most visible celebrities, he sends Tokyo teenagers to the hair salon whenever he adopts a newly coiffed look.
And as a valuable but perishable business commodity, he is worth pounds 30 million ($50 million) under a tentative transfer deal between United and Spanish club Barcelona. Any attempt to sell him will require navigating a crowded field of conflicting business interests, with sponsors like Nike, Adidas and Vodafone all weighing in.
"This becomes a business proposition, more than merely transferring a player for his football ability," said Alun James, managing director of WPP unit Hill & Knowlton.
Time to sell?
Any accountant could see it makes sense for United to sell Beckham now, despite the potential dip in the team's popularity and its prowess on the pitch.
Because he is at his peak as a player, he is worth more now than he was a few trend-setting haircuts ago, and his asset value will inevitably depreciate as the end of his contract approaches. At 28, he is already middle-aged in football years.
Because Beckham climbed through Manchester United's youth programme, almost all of the money the club gets from selling him will go straight to its bottom line. Its merchandise contract with Nike is fixed, and not contingent on the number of shirts sold.
Manchester United announced this week a tentative agreement that would send Beckham to Barcelona. The deal is far from sealed, as it is dependent on Joan Laporta winning the Barcelona presidency and on Beckham's approval.
One possible counter-bidder would be Barcelona's deep-pocketed rival Real Madrid, which already boasts stars like Ronaldo and Zinedine Zidane. Italian club AC Milan has also been mentioned as a possible buyer.
Swoosh vs three stripes
Beckham has a huge fan base in fast-growing Asia, where all three clubs would like to emulate United's popularity.
Along with his wife Victoria, formerly "Posh Spice" of the Spice Girls pop group, he also has a following in the United States, where a growing Hispanic population is making soccer increasingly popular.
"Football stars have become much more like film or rock stars than even five or 10 years ago," said Hill & Knowlton's James.
Like Jennifer Lopez, the Beckhams have carefully created a lifestyle brand that goes beyond a single area, and appeals to both men and women.
"Calling your kid 'Brooklyn,' the haircut thing, the whole point is that Posh and Beckham are brands, and they manage those brands very effectively," said John Williamson, board director of brand consultant Wolff Olins.
Watching carefully over the proceedings are rival footwear giants Nike and Adidas. Adidas sponsors Real Madrid and Beckham himself; Nike has Manchester United and Barcelona. Sending Beckham to Barcelona would help Nike sell a few million soccer shirts, while Adidas would love to have Beckham decked out in its kit from head to toe.
Beckham's endorsement deal with Vodafone could complicate any deal to send him to AC Milan, since the team is sponsored by Telecom Italia. His other endorsements include British retailer Marks & Spencer and drinks giant Pepsi.
(Additional reporting by Braden Reddall)
