Premier League giants Manchester United have confirmed that an agreement has been struck with partner TeamViewer, over a club-held choice to change their jersey sponsor.
TeamViewer, after all, became United’s new official shirt sponsor in 2021, penning a five-year contract worth a reported £235 million.
Just 12 months on, however, the German software company announced that the choice had been taken not to extend the terms of the agreement, past its expiration in 2026.
And now, yet another main development in the partnership between the 2 parties has too been unveiled.
This comes after the powers that be at Old Trafford struck an agreement, offering them with the choice to buy again the rights of their shirt-front sponsor.
As per an official statement released on Thursday evening:
“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.
“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.”