He's dominated a one horse race in Portugal
He made it a one horse race Pogue. Look at Porto before he became their manager. He certainly inherited a good squad there, a lot of the players who won the CL were already there, but akin to Chelsea he instilled a belief in the team and a lot of players increased a level or two.
He won the UEFA Cup, Champions League, 2 league Titles and 2 other domestic cups whilst there in 2 years, whichever way you spin it, that's bloody well impressive.
won a couple of league titles in England using the most expensive squad in the history of football,
Hughes is showing it takes more than the ability just to be able to spend money to make United successful. He came in, made Chelsea the best team in England, who could score for fun, where damn difficult to beat, and were near impossible to score against, breaking all sorts of records along the way. Yes he spent money, of course he did. But the chairman also interfered and spent a lot of his money for him.
then gone one to lead another one horse race in Italy
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Serie A being so poor is hardly his fault. I don't follow it, so I can't really comment on his time there, other than in the CL, but a few posters on here have said he is doing a very good job there, particularly in youth development where a lot of people on here seem to have some concern.
while consistently under-performing in the the Champion's League (a competition in which he first made his name only thanks to an incompetent lines-man)
We won the CL in 99 because of a crossbar, we won it in '08 because Terry slipped. Yes, he was fortunate that Scholes' goal was disallowed for no reason, but then all managers need good fortune. What if Robbins hadn't have scored?
And he won the CL with Porto, should have at least been in the final in 2005, where it not for an incompetent linesman allowing a Liverpool goal that shouldn't have been, were unlucky in 05/06, and went out only to penalties the season after. Grant also came extremely close to winning it with his team. He hasn't underperformed, he's been unlucky in some seasons, just as Fergie has. If anything, over a span of 23 years, Fergie winning the competition just twice is an underachievement, himself having acknowledged this.