Premier League giants Manchester United have confirmed that an agreement has been struck with partner TeamViewer, over a club-held option to alter their jersey sponsor.
TeamViewer, of course, became United’s new official shirt sponsor in 2021, penning a five-year contract worth a reported £235 million.
Just a year on, however, the German software company announced that the decision had been taken not to extend the terms of the agreement, beyond its expiration in 2026.
And now, yet another major development in the partnership between the two parties has too been unveiled.
This comes after the powers that be at Old Trafford struck an agreement, providing them with the option to buy back the rights of their shirt-front sponsor.
As per an official statement released on Thursday evening:
“This will allow Manchester United to commence a focused sales process for a new long-term shirt front partner with the expectation for TeamViewer to transition out of this role as soon as practicably possible.
“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.
“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.”
Once new shirt sponsor found, TeamViewer’s reduced partnership with #MUFC “would lead to a substantial reduction” to single-digit million dollar per year payments until 2026.
TeamViewer had signed a 5-year contract worth $57m per year.https://t.co/Yajjz3x0VU
— Laurie Whitwell (@lauriewhitwell) December 15, 2022
