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Manchester United have commenced talks to reach an agreement with a new shirt sponsor after the club decided to replace TeamViewer.
The Red Devils opted to cancel the shirt sponsorship with the software company two years early in favour of a new sponsorship.
TeamViewer made an agreement with United in 2021 for a five-year shirt sponsorship deal worth around £47 million annually.
However, the company has suffered a 70% drop in share prices, resulting in significant losses. Investors have also been vocal in their criticisms of the company for spending more on sponsorship than they have earned in profit.
Consequently, Manchester United have reached advanced stages in talks with a new sponsor, rumoured to be the American technology firm Qualcomm. The deal is said to be worth around £60 million.
The amount favourably compares to their deal with Chevrolet, which was agreed upon in 2012. The automobile company paid £64 million per year from 2014 until 2021 when United were one of the most successful teams.
The Red Devils have been prepared for this eventuality for a while, having bought back the front-of-shirt sponsorship rights from TeamViewer in 2022.
This means that United have been free to pursue a new sponsor, with TeamViewer serving as a mere placeholder on their shirts.
The current season's kits feature the TeamViewer logo across the front, suggesting that we may have to wait until summer for the introduction of the new sponsor.
The Red Devils have previously partnered with Qualcomm through their Snapdragon brand. Their preseason tour in 2023 was named after Snapdragon after acquiring the rights.
What is Manchester United's sponsorship history?
Over the years, Manchester United have had only six shirt sponsors as the club has maintained relative stability with its sponsors.
The first sponsorship lasted 18 years, from 1982 to 2000 with electronics firm Sharp. The club has since worked with Vodafone, AIG, AON, Chevrolet, and TeamViewer.
Manchester United will have a seventh sponsor starting next season and will need to make the deal worthwhile for the sponsors. The club must elevate its on-field performances to match its status as one of Europe's biggest clubs.
Erik ten Hag has made a strong impression in his short time as manager, leading the club to its first title in nearly seven years last season.
He will need to keep the club competitive and in contention for the biggest honors to attract lucrative sponsorships.
