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Teamviewer man utd deal9/19/2023 ![]() ![]() TeamViewer is also expected to spend millions of euros on a five-year contract with the Mercedes Formula 1 racing team.Ī spokesperson for TeamViewer said the company continuously assesses its need to invest in its brand and the visibility of its products against the company’s strategy, as well as the macro-economic outlook. That makes it one of the costliest sponsorship deals for a European football club, and one that’s drawn criticism from analysts. TeamViewer, a remote working software business whose valuation soared during the coronavirus pandemic, is reportedly paying Manchester United £47.5 million ($57 million) annually until 2026 as a shirt sponsor. “You are not SAP, Oracle or Mercedes,” Petrus Managing Partner Klaus Umek and partner Till Hufnagel said in the letter dated Wednesday. Petrus called the sponsorships a sign of hubris and “appalling judgment” in a letter to the German IT services company’s Chief Executive Officer Oliver Steil and finance chief Michael Wilkins.ĭisclosing a stake of just below 3% in TeamViewer, Petrus said it had been advocating for months in private and that it wouldn’t tolerate the company spending more than €70 million ($73 million) - about 1.4 times its net profit - on the deals. (Bloomberg) - Activist fund Petrus Advisers is pressuring TeamViewer AG executives to end the group’s frequently criticized sponsorship deals with football club Manchester United and the Mercedes Formula 1 racing team. United decided to go into partnership with them as they feel they fit well with the brand because they are dynamic, innovative and have interest in expanding into global markets.This content was published on Novem08:22 Novem08:22 It produces software which is downloaded to allow remote control and maintenance of computers and other devices and has been installed on over two billion devices. TeamViewer is a German-based technology company founded in 2005. We are looking forward to working with TeamViewer to bring to life our vision for a partnership built on smarter ways of connecting people and businesses.” “The ability to connect and collaborate has never been more important to the world and our community of 1.1 billion fans and followers. ![]() Richard Arnold, United’s managing director, said: “We are tremendously proud to be establishing this partnership with one of the most exciting and dynamic global software companies. It is not yet known if a deal will be struck to incorporate both, or if the club will find separate companies for each. AON signed an eight-year deal to sponsor the club’s Carrington training base back in 2013. The club are also looking into a new sponsor for their training kit and training ground. It also means that the club will now look for a new automobile sponsor with their deal with Chevrolet coming to an end. It puts the deal on a level with the one Barcelona signed with Rakuten back in 2016 and United believe it is the biggest shirt only deal in the Premier League. It is understood the deal is worth around £47m ($65m) per season and will see United earn around £235m during the duration of the contract. TeamViewer have now been confirmed as the club’s principal shirt sponsor for the next five years. The deal, which is the biggest shirt-only sponsor in the Premier League, will see TeamViewer’s logo in white on the front of United shirts from the start of next season.Ĭhevrolet have been the club’s main shirt sponsor for nearly seven years but, despite agreeing to extend their deal for six months, which would take them halfway through next season, there was no plan to extend it for an eighth year. Manchester United have secured a new shirt sponsor deal with TeamViewer worth £235 million ($326m) ahead of their current deal with Chevrolet expiring. They will replace Chevrolet on the front of Red Devils shirts from the start of next season
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