Manchester United Signs Record Jersey Deal With Qualcomm's ...
Manchester United has signed a new sponsorship agreement with Qualcomm that will put the company’s Snapdragon brand on the front of the club’s iconic jerseys, replacing TeamViewer. The deal will take effect for the 2024-25 season.
Terms of the contract were not released, but it will be the largest jersey deal in soccer, according to someone familiar with the agreement who was not authorized to speak publicly. The current top deal is Real Madrid’s agreement with Emirates worth roughly $75 million a year. The new deal is also worth more than the $80 million a year General Motors paid before TeamViewer.
A Man United spokesperson declined to comment on the terms.
In 2021, United signed a five-year contract with German business software company TeamViewer that was worth £47 million per year—$59 million at current exchange rates. The two parties “reached a mutually beneficial agreement” in late 2022 for United to buy back the rights, with TeamViewer remaining as a sponsor in a reduced capacity through the end of the pact.
Man United took a pay cut with the TeamViewer deal in the midst of the COVID-19 pandemic, as GM had previously paid $559 million over seven years for Chevrolet to be the front-of-shirt sponsor.
Qualcomm became a Man United global partner in July 2022, and Snapdragon was the presenting sponsor of the club’s 2023 U.S. summer tour. Under the expanded agreement, Snapdragon will be the shirt partner on the home, away and third kits of both the men’s and women’s teams. Snapdragon processors power smartphones, PCs, gaming devices and wearables.
This deal follows a 10-year renewal with Adidas to be the team’s kit manufacturer through 2035 in an agreement worth a minimum of £900 million. It is the largest deal in the Premier League and on par with what Real Madrid and Barcelona make.
Commercial revenue accounted for 44% of United’s total last year and is a critical component of the club’s financial model to invest in players and comply with financial fair play rules.
There have been no recent updates from the Glazer family on the team’s sale process. Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe are still waiting to see if the family will sell the club, with both submitting bids for more than $6 billion.
In January, Sportico valued United at $5.95 billion, and it ranks as the most valuable soccer club in the world, ahead of Madrid ($5.23 billion) and Barcelona ($4.95 billion).
