Considered one of the world's biggest sporting brands, United have a huge fan-base outside the UK, and their slump since Sir Alex Ferguson was replaced by David Moyes has already affected commercial success.
Speaking during a promotional visit to Johannesburg, Scudamore said: "It's a double-edged sword. When your most popular club isn't doing as well, that costs you interest and audience in some places.
"There's lots of fans around the world who wish Manchester United were winning it again,' he added. 'But you have to balance that off against putting on a competition."
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