When the two parties terminate the $ 235 million deal, the TeamViewer logo will no longer appear on the Manchester United shirt.
“Manchester United and TeamViewer AG have come to a mutually advantageous arrangement after working together for some time. Manchester United will be able to reclaim the rights to the front of the jersey from the new sponsor” – that’s what the club’s official spokesman from the English league said. declaring on the 15th of December.
In March of 2021, TeamViewer signed a five-year, £235 million ($290 million) deal with Manchester United. Yet the fact that Man Utd is in a bind and being sold has caused concern amongst investors.
Until a replacement sponsor is found, the TeamViewer logo must remain on the jersey under the terms of the deal. Until the contract expires in 2026, the corporation will serve as a worldwide partner. After the £750 million contract with Adidas, Manchester United’s partnership with TeamViewer is the club’s biggest commercial arrangement ever.
TeamViewer, a provider of remote access and control software hosted in the cloud, was founded in 2005 in Germany. Currently, there are 2.5 billion devices with TeamViewer software installed, with an average of 45 million devices online and using the program at any given time.
TeamViewer received a lot of backlash when they decided to invest in Manchester United. “To spend up to a quarter of our annual net profit on a football team is something we, as active investors, strongly disapprove of. The difference between TeamViewer and enterprise software giants like SAP or Oracle is stark “When asked, a Petrus Advisors client remarked.
TeamViewer’s stock price increased by 5% last month when it was reported that the company’s contract with Manchester United will soon be terminated. The stock price of the corporation has dropped from $18 to its current $6.35 in the time after the deal was signed.