Manchester United have been warned by major sponsors N!ke that a continued lack of success could cost them dear.
The sportswear manufacturers began a 13-year kit deal with the Red Devils in August 2002 worth up to £303million to the Old Trafford club.
However, it is reported that a get-out clause will allow N!ke to decide in July next year whether to continue that agreement past the 2007-08 season.
And vice-president of sports marketing Ian Todd has admitted his company will be monitoring United's progress following their failure to win a trophy last season.
Todd told The Sunday Telegraph: "We don't know what is going to happen next year. All options are open.
"Chelsea won the league this year, Arsenal won the FA Cup and Liverpool won the Champions League. So you could argue that Manchester United is only the fourth-best club in England at the moment.
"If, for example, Manchester United failed to qualify for the Champions League next season, that might be a problem. We will look very carefully at this situation, as we do with all our sponsorship agreements."