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United select new shirt sponsor

Manchester United have selected Germany-based IT company TeamViewer as their next shirt sponsor, even though their £47m a year offered sum was not the highest on the short list of ten companies.  However, the club felt they were 'a good fit'.

The current seven year Chevrolet deal was worth £64m a year, but that also include an automobile sponsorship.  United hope to find a new automobile sponsor to make up some of the shortfall.   United will also be looking for new training ground and training kit sponsors as their deals with AON expire at the end of the season.

TeamViewer provide IT support systems for remote working and have grown as a company as a result of the increase of working from home during the pandemic.    It will be a significant increase in marketing expenditure for them and they warned that it would hit profitability, leading to a 14 per cent drop in their share price.

It is interesting that companies are prepare to sacrifice profitability for global profile, although no doubt they hope it will pay off in the long run.  For clubs, sponsorship income is even more critical given the fall in other revenues.

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