TeamViewer has already decided it does not want to renew its sponsorship deal with Manchester United, despite having only signed a five-year deal last year.
The Germany IT company signed a deal worth £235m in March to replace Chevrolet, who weren’t interested in renewing their deal either…
According to the Manchester Evening News, TeamViewer’s share price dipped more than 70 per cent since the company’s partnership was announced and they’ve already decided that they won’t be renewing terms with the Premier League club.
A TeamViewer statement read: “The partnership (with United) has clearly boosted the international recognition of the brand over the past year. Nevertheless, the company has decided to re-evaluate its long-term marketing strategy.”
TeamViewer CEO Oliver Steil said: “The current macro-economic environment [including the effects of the pandemic and the war in Ukraine] has made decision-makers more cautious, and has postponed investments.”
I find it very interesting that TeamViewer are announcing this a year into their deal with United. Moreover, United’s commercial revenue has not grown in four years and the share price is at an all-time low.
Maybe the market is waking up to the Glazers and how they are running the football club.
This may be reason to believe we are reaching a crossroads with the American family. I certainly hope so, even if it means potential sponsors are running in the opposite direction because that can’t be good for the club.
Who else are going to pay United that sort of money?
