fbpx
TeamViewer pulls the plug on Manchester United deal

TeamViewer pulls plug on Manchester United deal

August 5, 2022

Just a year into its deal with English football club Manchester United, TeamViewer has decided to not renew the partnership beyond the ongoing term.

TeamViewer signed a five-year contract with Manchester United ahead of the 2021-22 season to become the principal partner of the club and replace Chevrolet as their front-of-matchday-shirt sponsor for the team. The German IT company signed this £235m deal in March 2021.

Since the deal’s announcement, TeamViewer’s share price has fallen by more than 70%, and the firm has already made the decision not to extend its contract, which currently runs until the end of the 2025-26 season, with the Premier League team. 

The most recent financial report showed an 8% decline in TeamViwer’s share price. The company regained 5% of it, however, after it was announced that its partnership with Manchester United will not be renewed.

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.

Bhavya Das

My eagerness, interest and inclination towards sports has continuously been forging and fortifying my personality as a writer. My sincerity to it is strengthened by the strong foundations of my musical attribute.

Leave a Reply

Your email address will not be published.

Manchester United announce Snapdragon as Global Partner
Previous Story

Manchester United announce Snapdragon as Global Partner

Williams Racings to enter Fortnite
Next Story

Williams Racings to enter Fortnite

Latest from Football

Go toTop