The ultimate in 70s chic. The original galacticos; Pele, Franz Beckenbauer, Johann Cruyff.

The Cosmos slid into oblivion along with the rest of the ill-fated North American Soccer League in 1984, and there they remained. Until now.

Confusion over motive meant the most recognisable name in US soccer remained the property of Peppe Pinton when MLS was launched, even though what became the New York Red Bulls expressed an interest in acquiring it.

Former Tottenham director Paul Kemsley led the English consortium that changed Pinton's mind in 2009, setting a chain of events in motion that leads to Old Trafford on Friday night, where Cosmos will supply the opposition for Paul Scholes' testimonial.

Later this year, club officials hope they are awarded the MLS' 20th franchise.

"It was one of those iconic sporting brands that everyone knew and loved," said Terry Byrne, best known as David Beckham's confidante, but now vice-president of Cosmos, charged with turning dreams into reality.

"When you see the badge it brings back a good memory.

"Trying to live up to what it was is very difficult. In today's game, unless you are Real Madrid, you can't buy the same players New York Cosmos had.

"You just have to do justice to the badge and the history."

They have made quite a good start. Pele was tracked down and readily accepted the title of honorary president, Eric Cantona was sold on the vision too, so will return to Manchester United for the first time in 14 years.

It is rather a side issue but who else but Scholes would deliberately book opposition that would ensure a presence that will eclipse him at his own testimonial.

Yet, as Byrne is acutely aware, there has to be more than just a name.

For a start, undoubted interest amongst 40-somethings in Europe may be viewed with suspicion in the States, where MLS clubs battle for recognition, Pacific west-coast trio Seattle, Portland and Vancouver apart.

Commissioner Don Graber may have expressed a wish for New York - rather than New Jersey where the Red Bulls are based - to have team 20. However, that does not automatically mean the Cosmos.

The powerbrokers behind the New York Mets baseball team have also expressed an interest. San Antonio leads the challenge from outside the city.

"There are moments of self doubt every day," said Byrne, who in his neat Soho office does not give the impression of being ravaged by self doubt, having moved his entire family out to New York in the belief what he was offering would be accepted.

"You have a challenge every day.

"We took this concept from nothing. New York Cosmos had the history and memorabilia. But it was in a warehouse. We were nothing.

"What we have done in two years is amazing. Give us another five and hopefully we will prove we were capable of doing it justice."

There are a couple of significant problems the Cosmos must overcome in their quest to reach the MLS.

First of all, a stadium. Byrne claims there are four sites under consideration but land in New York is not plentiful, the planning process time-consuming.

It means a temporary home would have to be built in order for them to compete in 2013 or, more like 2014.

Secondly supporters. The Red Bulls have struggled to attract fans across the Hudson River despite the presence of Thierry Henry.

Are there really thousands of people in Manhattan and Queens aching to see a 'soccer' game every other week when those who are interested can get their fix of Premier League, La Liga, or just about anything else, through pay-TV.

These are problems for a later date though.

On Friday, the Cosmos will be real, even to the extent of having a squad which, whilst packed with 'guests' like Gary Neville and Wayne Bridge, will also have a healthy contingent of Under-21 players who already compete under the Cosmos banner.

"Friday will be amazing," said Byrne.

"We already know 71,000 tickets have been sold, so, for our young lads it is the chance of a lifetime.

"Having Eric leading a team out at Old Trafford for the first time in 14 years is great for Manchester United.

"If you said you wanted any game in the world as your first, this is as big as it would have got."