Manchester United's peak powers of persuasion have long faded - but has the erosion been so protracted and so damaging that they have now lost all sense of appeal for players searching for their next big move?
Back in early May, Man Utd were the club in pole position to sign sought-after striker Liam Delap from Ipswich. There were positive noises from Delap, too, thought to be open to playing under Ruben Amorim.
But there was a catch. Delap's final decision was likely to be swayed by the glitz and glam of Champions League football, something Man Utd could not offer.
In his own words, the forward, whose release clause is a modest £30m, chose Chelsea because of their style of play, as well as ambition to win things. Ouch.
A bright, young English talent like Delap, who has connections to Manchester having spent five years at Man City, preferring to join Chelsea because the project has better immediate appeal will hurt Man Utd bosses. And so it should.
Perhaps it's a timely reality check.
United's place in the pecking order has tumbled over the past decade. Christopher Vivell and Jason Wilcox, the club chiefs shaping the recruitment strategy, are not permitted to fish in the same talent pools their predecessors once were. Economically and commercially, the club have fallen on much tougher times, no longer considered the destination club.
Gone are the days where Europe's best players would scramble to sign for Man Utd. To represent one of the biggest, most successful footballing dynasties used to be a statement. A confirmation of elite.
But modern-day Man Utd, the kind that finishes 15th in the Premier League and loses European finals to Tottenham, previously trophyless for 17 years, does not attract nor retain world-class talent.
Former captain Roy Keane has been bullish in his belief that Man Utd's pulling power has all but disappeared: "I think the days of everyone wanting to go to Manchester United are gone," he said in May.
"What are the positives with this team? You look at United and go, they're not really good at anything." Again, ouch.
Bruno Fernandes being approached by Saudi Arabian club Al Hilal, whether a deal is struck or not, is symbolic of how far the Premier League's former leading force have fallen.
If Fernandes were to leave, Amorim would not only lose his best player, but his captain too. And perhaps the only individual to emerge from this campaign of catastrophe with any grace. Few could have shouldered the turmoil with such defiance and poise.
As Amorim has acknowledged: "We need more Brunos." Imagine the impact of fewer?
Of course, Man Utd have been beaten to big-name signings before. Eden Hazard famously chose Chelsea over Man Utd back in 2012 when Sir Alex Ferguson was still in charge, albeit he was nearing the end of his reign. Delap's snub won't define this next era. But recent market mishaps might.
United have signed plenty of young talent in recent windows, all for inflated fees despite having no obvious competition for the player. Jadon Sancho, Antony and Rasmus Hojlund can all be categorised similarly, costing a combined total of £226m. They are worth a fraction of that now.
The signing of 19-year-old defender Leny Yoro, widely considered to be one of the brightest young talents in the game, and pursued by both Real Madrid and Paris Saint-Germain, seemed to buck the trend last July.
But that was before another season - their worst since suffering relegation in 1973/74 - unravelled so publicly. Attempting to replicate the same transfer coup has surely become infinitely harder, if not impossible.
Amorim has been reluctant to sound the panic alarm, trying to rally with honest and heartfelt rhetoric, but even he looks drained by the monotony of underperformance and the turbulence that carries. Finding players suitable to the manager's requirements has got to be the overriding focus this summer. And yet, such a targeted approach to fit a very precise style brings with it its own risk.
"I'm not worried about the money, we are a big brand," Amorim said ahead of the Europa League final loss to Spurs.
Surely Man Utd's status as a 'big brand' is under serious threat, though? This is a club unrecognisable from its Sir Alex heyday. Only a few weeks ago it was reported that INEOS boss Sir Jim Ratcliffe, who owns a 29 per cent stake, had seen his personal wealth drop by £6.5bn (a 25 per cent loss) since investing 18 months ago. This downward trajectory shows little sign of reversing.
Amorim's firmness with Marcus Rashford meant United spent the second half of the season without their most experienced Premier League scorer. His 20-year United career looks to be finished. Sancho wants out permanently. Alejandro Garnacho has used social media to underline his determination to leave too.
Then there is the Fernandes conundrum. His departure would rid United of their one elite player and surely make Old Trafford an even less attractive destination, while having the potential to, as one Sky Sports colleague writes, "bring a fanbase to its knees".
Ultimately, the hollowing out of United's core has been happening for years. There is nothing new about instability on the pitch or off it, nor player-manager spats that have further served to undermine - one might circle back to the Erik ten Hag vs Sancho saga, or Cristiano Ronaldo's messy exile before that.
And yet, throughout all the upheaval and unrest, there are glimmers of promise. Man Utd have signed Matheus Cunha from Wolves. A good move on paper. There is still time for Yoro, and Manuel Ugarte and even Hojlund to come good.
And they still possess one of the game's most highly thought of young coaches. Amorim has the unenviable job of knitting the past and present together to create something coherent before Man Utd can hope to make any real progress.
A job easier said than done, but the alternative does not bear thinking about.
