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Manchester United Owners Announce Buyout Of Training Kit Sponsorship

Manchester United Owners Announce Buyout Of Training Kit Sponsorship

Manchester United owners the Glazer family have announced their decision to buy back the sponsorship rights to their training kit.

Manchester United Owners Announce Buyout Of Training Kit Sponsorship

United entered into a £40 million agreement with DHL in 2010 for the rights to sponsor their training wear, but have decided to take steps to end the agreement early as they feel better revenues could be sought elsewhere.

One reason stated to be behind the Glazers’ decision is their recent shirt sponsorship agreement with General Motors, in which the company will pay a world record figure of over £500m to succeed AON in 2014.

"The significantly increased value of agreements concluded since entering into this agreement [with DHL], such as our world record shirt sponsorship with General Motors, leads us to believe that there should be strategic opportunities to further optimise the value of these rights," the owners said in a statement released on Thursday.

The Old Trafford outfit did, however, announce that DHL would continue as global logistics sponsor for the club.

"We have successfully negotiated an early buy-out of our training kit agreement with DHL effective 30 June, 2013. DHL will then continue as our global logistics sponsor,” the statement added.

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