Manchester United's managing director Richard Arnold has disclosed that 10 parties took part in the final stage of talks for the club's main shirt rights, which were picked up by software company TeamViewer.
“The process (of finding a shirt sponsor) was incredibly successful," started Arnold speaking to the UK press in a conference. "We had more than 10 participants in the final phase. We were able to choose between partners, which is a very fortunate situation to be in, in the context (of the pandemic).”
Arnold also went on to reveal that TeamViewer were not the highest bidder for the shirt sponsorship deal but claimed "what they bring to us is way beyond money."
TeamViewer, however, saw their stock price fall by more than 14 per cent after announcement was made that they will be Manchester United’s new principle shirt partner from the 2021/22 season, to €36.68, falling as low as €36.68 before recovering to €36.70.
Teamviewer had stated that the deal would result in an increase of marketing expenditure for the group and that its profitability would be hit.
The marketing investment into Manchester United represents 12 per cent of their overall revenue, which is a similar marketing spend-to-revenue ratio as major sports brands, including Nike.
Author: Fred Dobberson