The investment firm demanded that TeamViewer stop “bleeding millions” and “rapidly disengage from this mess” concerning the partnerships with United and Mercedes Formula 1. In November, TeamViewer came under pressure from Petrus Advisers, a London-based investment firm that owns just over three per cent of the company. ![]() Manchester United co-owner Avram Glazer has refused to be drawn on the current timescale of a takeover involving the club, but exclusively told The Athletic on Wednesday that “the process is proceeding”.Īsked for an update on the sale of United, the 62-year-old said: “It’s not necessarily a sale, it’s a process and we’re going forward with the process, so we’ll see what happens.” Three weeks ago, Manchester United’s owners the Glazer family announced their intention to “explore strategic alternatives” for Manchester United “including new investment into the club, a sale, or other transactions”. ![]() “This would lead to a substantial reduction of partnership volume to a single-digit million USD amount p.a., resulting in a significant positive impact on TeamViewer’s profitability.” “Once a new shirt front partner is selected and takes on this role, TeamViewer AG will remain part of Manchester United’s partner ecosystem until the end of the original contract term, with an adapted scope of partnership. “This will allow Manchester United to commence a focused sales process for a new long-term shirt front partner with the expectation for TeamViewer to transition out of this role as soon as practicably possible. The statement read: “After a period of collaborative, private discussions over the past months, Manchester United and TeamViewer AG have reached a mutually-beneficial agreement under which Manchester United shall have the option to buy back the rights to the club’s shirt front sponsorship. ![]() Our large, passionate and highly engaged fan base provides Manchester United with a worldwide platform to generate significant revenue from multiple sources, including sponsorship, merchandising, product licensing, broadcasting and matchday initiatives which in turn, directly fund our ability to continuously reinvest in the club.And on Thursday a statement was released which said the two parties had “reached a mutually beneficial agreement” regarding their future collaboration. Through our 144-year football heritage we have won 66 trophies, enabling us to develop what we believe is one of the world’s leading sports and entertainment brands with a global community of 1.1 billion fans and followers. Manchester United is one of the most popular and successful sports teams in the world, playing one of the most popular spectator sports on Earth. No further announcement will be made until Manchester United has selected a new partner to replace them on the front of its iconic shirt. TeamViewer’s financial commitments to Manchester United remain unchanged whilst they remain the club’s shirt front partner, after which their financial commitments will reflect their status as a global partner. TeamViewer has been officially unveiled as Manchester United’s new principal shirt partner following the launch of our new home kit for the 2021/22 season. Since July 2021, TeamViewer has benefitted from unparalleled global exposure as the most talked-about shirt front partner in world football, following the most visible launch for a football club partner in the digital era. ![]() Once a new shirt front partner is selected and takes on this role, TeamViewer will continue as a valued member of Manchester United’s suite of global partners, providing Manchester United with remote connectivity solutions, until the end of the original contract term in 2026. Having agreed its partnership with TeamViewer at the height of the Covid-19 pandemic, Manchester United will be taking the opportunity to commence a focused sales process for a new shirt front partner in a normalised market. MANCHESTER, England, December 15, 2022-( BUSINESS WIRE)-After a period of collaborative, private discussions over the past months, Manchester United and TeamViewer AG have reached a mutually-beneficial agreement under which Manchester United shall have the option to buy back the rights to the club’s shirt front sponsorship.
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