When Michael Carrick arrives in the tranquil surroundings of Lake Como for Wednesday night's Champions League clash against the Italian side, he may find little respite from Manchester United's troubles.

For all its picturesque beauty, Como is home to one of European football's most ambitious and remarkable footballing projects.

Just seven years ago, they were playing in Serie D, the fourth tier of Italian football, having suffered three bankruptcies between 2004 and 2017. Now, they are rubbing shoulders with Europe's elite.

The transformation began in 2019, when Indonesian billionaire brothers Robert Budi Hartono and Michael Bambang Hartono, who originally made their fortune in the tobacco industry, bought the club for $850,000 (£644,427) through their Djarum Group.

With a combined net worth then estimated at $48billion (£36.4billion), they instantly made Como the richest club in Italian football.

The money mattered, but so did the strategy. Rather than pursue instant success through lavish spending, Como built steadily, investing in infrastructure, recruitment and a clear footballing identity.

'They didn't just do an Abramovich and buy anything that would move on two legs,' Italian football expert Daniele Verri tells Daily Mail Sport. 'They just went step-by-step and they’ve done it really well... they are still doing it well.

'They climbed the ladder of Italian football pretty quickly, but they never overspent. It’s not like they bought Roberto Baggio or mega-fancy names.'

The results have been striking. Promotion from Serie D in 2019 was followed by a Serie C title in 2021, before a second-place finish in Serie B three years later secured Como's return to Serie A after a 21-year absence.

Having come tenth in 2024-25, they finished fourth last time out to qualify for the Champions League.

After a rapid summer renovation of their Stadio Giuseppe Sinigaglia, which sits on the shores of Lake Como and will have a capacity of around 11,000 for the United game, they are now welcoming one of the biggest clubs in the world.

The fact they were able to complete the necessary stadium improvements to ensure they could host Champions League games sums up their efficient management, with renovation of grounds typically difficult in Italy due to bureaucratic issues.

At the heart of the project is Cesc Fabregas, the former Arsenal, Barcelona and Chelsea midfielder who has emerged as one of Europe's brightest young coaches. Also a minority shareholder, he has developed a side built around possession, intensity and an attractive style of play.

His connections to Spanish football have proved particularly valuable in the transfer market. Although significant investment has helped Como's journey, they have always spent smartly and brought in top young talents.

That is best reflected in Nico Paz, who joined from Real Madrid aged 19 but is now an Argentina international and one of the most exciting young players on the continent. Greek forward Anastasios Douvikas, a 2025 arrival from Celta Vigo, is another good example.

Como's current squad includes other young stars like Maximo Perrone and Jacobo Ramon, while summer additions that included Moise Kean, Robert Sanchez and Trevoh Chalobah underlined the club's growing appeal.

'The idea of being part of a rising club with big-money involved and young players under a former champion like Fabregas is very attractive,' Verri adds.

'Everyone recognises they play a nice brand of football, and they've done it step-by-step up the ladder. They never bought a title and have always brought in players who were pivotal for the project. Como is a small city, but they are competing.'

Behind that recruitment is a data-led approach, with Como drawing on Jamestown Analytics, the sports analytics company best known for its work with Brighton.

Fabregas and the owners take a lot of credit in Como's rise yet there are several unsung heroes.

That includes former Wimbledon and Chelsea hardman Dennis Wise, who was instrumental in laying the foundations for the club's modern success. Initially acting as a technical consultant, he became CEO in 2021 and helped build crucial infrastructure and drive on-pitch success.

This included developing a new training facility and rebuilding the youth academy. He was also central to persuading Fabregas to join as a player and minority shareholder in 2022. Wise left in July 2024 amid a reported power struggle.

Thierry Henry is another minority shareholder. Although he isn't involved in the day-to-day running of things, his presence has brought global prestige and focus to the project.

Perhaps that attention is not needed for a football team in one of the most luxurious and beautiful settings in the world, a factor the club have made central to a wider strategy to turn themselves into a international fashion and lifestyle brand.

This has included launching their own streetwear and formal wear collections, helping the club to significantly grow their off-pitch revenue and global visibility, while celebrity visitors have brought additional attention.

Keira Knightley, Hugh Grant, Michael Fassbender and Benedict Cumberbatch have all attended games, while Chalobah recently revealed he was a neighbour of George Clooney.

’Funnily enough, I went on a boat, and I drove past his house,’ Chalobah said. ‘It’s a really nice place, by the lake, the food is great, the weather is nice, and the people and the club have really helped me settle in. I suggest you guys should go there.'

For club president Mirwan Suwarso, the ambition extends well beyond the pitch. He has previously likened Como's business model to Disney, with football serving as the centrepiece to a much broader commercial network.

'The parallel is between Disney and Como,' he said. 'For Disney, Disneyland represents its theme park division; for us, the football club and the matchday experience is our theme park division.'

Alongside that, Suwarso has described a network of complementary businesses spanning merchandising, licensing, clothing, footwear, hospitality, travel and tourism, all built around the identity and international appeal of Lake Como.

He added: 'The team from a small city - 80,000 inhabitants - now sells jerseys in London, Paris, Milan, and New York as if it were Inter, Juventus, or AC Milan. Only 14 per cent of our commercial revenue comes from Como and its province.

'We are building a broader ecosystem, drawing on the lake's identity, its global appeal, and the aspirations associated with it. This creates opportunities in merchandising, hospitality, travel, and tourism, beyond traditional football revenues.

'We want to play good football and win, but Como is also a lifestyle destination. Ignoring this would be a mistake.'

Verri believes that international positioning is central to the club's long-term appeal.

'They are one of these new global projects,' he says. 'AC Milan have fans all over the world because of their successful eras, but Como cannot rely on that.

'They are doing one of those new chic and trendy projects where they have a nice shirt, invite actors to games, and Como is a luxury place.

'But the owners are also putting money into the city, creating something of real value to help the club grow as quick as possible.'

The question is whether Como can sustain their extraordinary progress and eventually challenge Italy’s established elite.

'Why not?' Verri says. 'They've got the money to do so. In the summer people were saying Como were a title contender this season, but I believe it's too early because of their squad depth and European commitments.

'It takes time to be consistent at a certain level, but you have seen how quickly they’ve climbed from Serie D to the Champions League so the sky's the limit.'

For United, meanwhile, the trip represents another demanding test. Sunday's draw at Leeds may have slightly dampened the noise around Carrick after another difficult week, yet Como's recent progress suggests they will not be straightforward opponents.

They thrashed Leipzig 4-1 in their Champions League opener before they suffered a disappointing 3-2 defeat by Feyenoord in which key man Assane Diao, another recruit from Spain, got injured.

'Most of the Como players aren’t used to this level of football every three days so it will be difficult for them,' Verri concludes. 'They will respect Man United, but Fabregas will not change his approach and will go for the win.

'It will be a good game, Como are an attractive team and they run a lot, which is not that typical for Italian clubs although it might suit Manchester United.'