Manchester United will terminate their £235million deal with shirt sponsors Team Viewer after reportedly agreeing to buy back the rights to the deal.
According to Sportsmail, the German tech company, currently the main shirt sponsor of Man United, had developed cold feet over the five-year agreement with the club only 18 months after it was announced in March 2021.
According to the report, they have decided not to renew in 2026 as they are still waiting to get value for their investment. Team Viewer had lost four-fifths of its value amid concerns they had overstretched by committing to the £47m-a-year deal.
And now, both United and the German company have agreed on an exit strategy, with United confirming last night that they have ‘reached a mutually beneficial agreement with the company.
The club released a statement in their official website saying: “After a period of collaborative, private discussions over the past months, Manchester United and TeamViewer AG have reached a mutually beneficial agreement under which Manchester United shall have the option to buy back the rights to the club’s shirt front sponsorship.
“Having agreed its partnership with TeamViewer at the height of the Covid-19 pandemic, Manchester United will be taking the opportunity to commence a focused sales process for a new shirt front partner in a normalised market.
The statement also states that TeamViewer will remain on the front of United’s shirts until a new sponsor is found.
“Once a new shirt front partner is selected and takes on this role, TeamViewer will continue as a valued member of Manchester United’s suite of global partners, providing Manchester United with remote connectivity solutions until the end of the original contract term in 2026.
“Since July 2021, TeamViewer has benefitted from unparalleled global exposure as the most talked-about shirt front partner in world football, following the most visible launch for a football club partner in the digital era.
“TeamViewer’s financial commitments to Manchester United remain unchanged whilst they remain the club’s shirt front partner, after which their financial commitments will reflect their status as a global partner. No further announcement will be made until Manchester United has selected a new partner to replace them on the front of its iconic shirt.”