Manchester United have mutually agreed to end their shirt sponsorship with TeamViewer.
The German software company signed five-year partnership to be the sponsor of Red Devils home and away in a deal worth £47 million per year and £235 million in total.
It represented the biggest shirt sponsorship deal with any Premier League club.
That partnership has now been terminated with the Red Devils having the option of buying back the rights to the shirt sponsorship and selling it to any new interested party.
TeamViewer described this latest move as beneficial to both parties. The Goppingen-based company, however, stressed terminating the shirt sponsorship was not an end to its agreement with the club and will honour the remainder of the contract until 2026 in some other capacity.
“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,” a TeamViewer statement quoted on Sky Sports read.
“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 the partnership.”
Owners of Manchester United, the Glazer family, have recently indicated they are open to selling the club. This comes after Cristiano Ronaldo made scathing remarks about how the American family have run the club since purchasing in it 2005.
It led to the contract of the Portuguese superstar being terminated with the 37-year-old now training at former club Real Madrid.
Man Utd currently sit fifth on the Premier League table and will resume league action with a home tie against Nottingham Forest on December 27.
