Manchester United is reportedly close to signing a new sponsorship with a mystery American software company. The Premier League club is likely to have a new sponsor midway through next season as the deal with Chevrolet is set to expire in December 2020. The report from Sun reveals that new deal is worth £70 million per year, an improvement from £64 million per year deal with Chevrolet.
Chevrolet replaced AON in 2014. The car manufacturing giant features in front of the jersey. The deal was due to expire at the end of 2020/21 season, but the pandemic forced both parties to extend the deal for another six months. The deal with Chevrolet was one of the biggest sponsorship deal in football, but the reported figures for the new sponsor further strengthened the English club’s commercial clout.
United CEO Ed Woodward ensured investors last week that the English club will bounce back after the pandemic soared the debt and led to losses in revenuses. The overall losses in the revenue for United has been close to £100 million.
On the pitch, it has been up and down season for Man United. Ole Gunnar Solskjaer has managed to keep the team second in the Premier League, but there was a group stage exit in the Champions League. United hierarchy will be hoping to get a financial boost once again by qualifying for Champions League next season. The broadcast revenue improves significantly if United manages to finish in the top four.
United’s hopes of achieving the target of top four received a big boost over the weekend. Solskjaer’s men managed to end Man City’s unbeaten run of 28 games by clinching 2-0 victory at Etihad Stadium. Woodward will be hoping that United ends the season strongly to take the next step in their development in the next campaign. The immediate focus of the club will shift to first leg of Europa League knockout clash against AC Milan on Thursday.
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