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Manchester United is reportedly in advanced negotiations with a new shirt sponsor. According to The Athletic, the Red Devils are looking to advance their current partnership with Qualcomm. The two sides already have an existing relationship on a minor level, but the technology company wants to amp up funding to become United’s shirt sponsor.
Qualcomm, a San Diego-based tech corporation, creates semiconductors, software, and wireless technology services. They also currently own patents that are crucial to high-speed 5G technology. The Red Devils revealed the partnership with Qualcomm back in August of 2022. However, the deal was just a secondary sponsorship agreement.
Club’s current contract with TeamViewer to end prematurely
Nevertheless, the tech company is looking to become United’s official shirt sponsor after their current deal with TeamViewer soured. The Germany-based software firm previously announced a five-year deal with the Red Devils. Although the partnership only just began in 2021, TeamViewer agreed to have the option to buy back their front-of-shirt sponsorship rights.
A statement on the adjusted agreement was announced in December. “Once a new shirt front partner is selected and takes on this role, TeamViewer AG will remain part of Manchester United’s partner ecosystem until the end of the original contract term, with an adapted scope of partnership,” read the statement.
“This would lead to a substantial reduction of partnership volume to a single-digit million USD amount p.a., resulting in a significant positive impact on TeamViewer’s profitability.”
Qualcomm shirt sponsor should give United boost in funds
The deal between United and TeamViewer is reportedly worth about $58 million each season. Nevertheless, the aforementioned news outlet is reporting that United is now looking for a shirt sponsorship deal closer to $75 million annually. Qualcomm is currently negotiating a final price with the…
Source link : https://worldsoccertalk.com/news/man-united-to-change-shirt-sponsor-to-us-company-20230912-WST-455599.html
Author : Chris Moore
Publish date : 2023-09-12 15:45:22
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