Manchester United is reportedly in advanced negotiations with U.S. technology firm Qualcomm (NASDAQ: QCOM ) over a new shirt sponsorship deal. The Premier League team is targeting an agreement that would pay them £60 ( £1 = $1.25) million annually, as reported on Monday. The deal would not take effect this season due to the high volume of imitation shirts already sold, but it is expected to commence in time for the next campaign.
The Red Devils have been actively seeking new shirt sponsors since last year when they announced that their current deal with TeamViewer would not be renewed. The existing sponsorship contract sees United receiving £47 million per year from TeamViewer. However, the proposed Qualcomm agreement would significantly surpass this value, potentially making it the largest shirt sponsorship package globally, overtaking the current record held by Real Madrid and Fly Emirates.
Manchester United and Qualcomm are not strangers in business dealings. In August 2022, the club signed a contract to promote Qualcomm's subsidiary brand Snapdragon, widely used in high-end smartphones, PCs, gaming consoles, connected cars, smart wearables, and other products worldwide. As part of the 2022 agreement, Qualcomm also pledged to advise Manchester United on future mobile connection upgrades at Old Trafford to enhance fans' experience.
If the deal is finalized between the Glazers-owned club and Qualcomm, the tech company will take over as the shirt sponsor for Manchester United from the start of the next season.
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