13 September 2023 , 11:28
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Manchester United’s record £60m sponsorship deal with Snapdragon has provided further evidence of the club’s enduring commercial strength despite their shortcomings on the pitch and chaos off the field.
Snapdragon, a subsidiary of the Qualcomm corporation that began a partnership with United last July, will replace TeamViewer on the front of their shirts next summer.
That arrives less than two months on from Adidas agreeing a landmark £900m deal to continue manufacturing the club’s attire. And both have arrived at a time when a harsh spotlight is shining on the club as the Glazers’ will-they-won’t-they-sell saga stretches into an 11th month.
"Manchester United has agreed to an expanded strategic collaboration with Qualcomm Technologies, Inc., that will see the Snapdragon brand displayed on the front of the club's famous shirt," United said in a press release.
"Qualcomm Technologies is already a global partner of Manchester United, promoting its Snapdragon brand. Under the expanded agreement, Snapdragon will become Manchester United's front-of-shirt partner from the start of the 2024-25 season, featuring on the home, away and third kits of the men's and women's teams."
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United signed a five-year deal worth £47m a year with German tech firm TeamViewer in 2021. But the Old Trafford club said in December that they had reached a "mutually beneficial agreement" with TeamViewer giving the club the option of buying back the rights to its shirt front sponsorship.
Some TeamViewer investors had raised concerns about the deal, telling the company that it was “appalling judgment” - but that was said to be mostly on account of the pandemic’s economic pressures.
United’s latest financial results said that commercial revenue had risen more than 20 per cent year-on-year with £235.5m made in the nine months ending March 31. But the club’s debt, linked to the Glazers’ leveraged buy out of the club in 2005, hovers above the £1bn mark.
Manchester United fans stage a sit-in protest over the Glazers' ownership of the club (Getty Images)The club’s potential sale has stalled despite both interested parties - Sir Jim Ratcliffe and Sheikh Jassim - remaining interested in a takeover that would be expected to cost more than £5bn.
Yet there has been a growing sense that Joel and Avram Glazer are siding towards remaining in charge, believing that an even bigger offer could arrive in the medium term.
Supporters continue to protest against their ownership with the recent home game against Nottingham Forest seeing a sit-in staged inside Old Trafford at full-time. United return to action after the international break against Brighton on Saturday afternoon.