Will Beckham leave United?

It must be galling for a professional sportsman, but it's a fact that his commercial value to a big club is now as important as his value on the pitch. A Japanese publisher told me recently: "What you must understand is that here in Japan Beckham is bigger than Manchester United."

This is what makes him such an attractive package. It's also at the root of his unpredictable relationship with Ferguson. The United manager has become increasingly irritated by the commercial demands, the pop star lifestyle and the media baggage. He still has a significant value as a name on United's shirts but the chances are that he will leave the club when his contract expires in two years anyway.

What United must work out is whether his commercial value over the next two years outweighs the fee they would receive if they sell him now.

Such an influx of funds is necessary for Ferguson to restructure his squad. He has already been told by the United board he must sell before buying this summer. Selling Beckham would solve many problems.

The final three games of the Premiership season may provide further clues to Ferguson's long-term plans. Champions League elimination means that United will end the season empty-handed again unless they snatch the title from Arsenal. These three games therefore are now the biggest of United's season.

Will Beckham figure in any significant way? Last night he was called from the bench, replacing Veron in the 62nd minute, and ensured a nervy climax to a pulsating game supplying a trademark free-kick after just eight minutes on the pitch. His second goal, squeezed in at the foot of a post, owed much to the inadvertent intervention of the Real captain, Fernando Hierro.

Well, at least Manchester United got it half right. They needed goals and they scored them, but they suspected that Real Madrid might score too. And they were right.

Ferguson is entitled to feel let down by the defensive inadequacies of his team. Faced with the threat posed by the best attack in Europe, United demonstrated a reckless disregard for their own gameplan.

Ferguson must have made special provision for Ronaldo but, whatever it was, it didn't work. This half of the plan was a disaster - and the reason why Ferguson's dream of winning the Champions League at Old Trafford in May ground to a halt.

United did more than enough in the attacking half of the field to overhaul a 3-1 deficit from the first leg and secure a semi-final date with Juventus. But they were forced to chase the game from the 12th minute when a beefy Ronaldo swept away from Ferdinand and squeezed a low shot between Fabien Barthez and his near post.

Ferdinand spent most of the night chasing lost causes. United needed composure, tenacity and discipline from the world's most expensive defender and his centre back partner Mikael Silvestre because, as we saw in Madrid a fortnight ago, Zinedine Zidane, Luis Figo and Ronaldo have what it takes to pull apart the most resolute defence.

Would Beckham flourish in such company? Maybe he'll soon be given the chance to find out.