English Premiership

$559m boost for Man United

2012-08-04 09:33
Manchester United (File)

New York - Manchester United will receive $559m in their seven-year shirt sponsorship agreement with General Motors Co.'s Chevrolet division.

Chevrolet takes over from the insurer Aon starting with the 2014-15 season. Manchester United said they will receive $70m during the first season of the new deal.

The agreement was signed July 26 and announced on Monday. The financial details were disclosed by the club on Friday in a filing with the US Securities and Exchange Commission as part of Manchester United's planned initial public offering of stock.

United said the payment will increase 2.1% annually during the deal, which runs through the 2020-21 season. In addition, the club said the agreement calls for them to receive about $18.6m in fees in each of the 2012-13 and 2013-14 seasons.

General Motors announced the resignation of its chief marketing officer, Joel Ewanick, on Sunday night. Ewanick had been involved in negotiating the deal.

"Mr. Ewanick failed to meet the expectations the company set for its employees," spokesperson Greg Martin said Friday, declining additional comment.

NEXT ON SPORT24X

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
3 comments
Comments have been closed for this article.
Live Video Streaming
Video Highlights
Sport Talk

Fixtures
30 August 2014
Burnley v Manchester United, Turf Moor 13:45
West Ham United v Southampton, Boleyn Ground 16:00
Manchester City v Stoke City, Etihad Stadium 16:00
Swansea City v West Bromwich Albion, Liberty Stadium 16:00
Queens Park Rangers v Sunderland, Loftus Road Stadium 16:00
Newcastle United v Crystal Palace, St. James' Park 16:00
Everton v Chelsea, Goodison Park 18:30
31 August 2014
Aston Villa v Hull City, Villa Park 14:30
Tottenham Hotspur v Liverpool, White Hart Lane 14:30
Leicester City v Arsenal, King Power Stadium 17:00
13 September 2014
Arsenal v Manchester City, Emirates Stadium 13:45
Stoke City v Leicester City, Britannia Stadium 16:00
Crystal Palace v Burnley, Selhurst Park 16:00
Southampton v Newcastle United, St. Mary's Stadium 16:00
Sunderland v Tottenham Hotspur, Stadium of Light 16:00
Chelsea v Swansea City, Stamford Bridge 16:00
West Bromwich Albion v Everton, The Hawthorns 16:00
Liverpool v Aston Villa, Anfield 18:30
Logs
Team P W PTS
Previous Results

Date Home Team Result Away Team
Vote

Is Louis van Gaal the right man to restore the glory days at United?

 
 
Men
Women
Love 2 Meet
English Premiership flutter

Take Sport24's "expert" tips at your peril...

Featured Blog

Dave ask if you would like to meet your local sports heroes and stand the chance to win prizes to the value of over R40 000.

Latest blogs
 

Twitter Follow Sport24 on Twitter

Facebook "Like" Sport24's Facebook page

Newsletters Sign up for the Morning Glory, Super 15 and Soccer newsletters

WIN Enter and win with Sport24!

Mobile Sport24 on your mobile phone - WAP, alerts, downloads, services

Forum Have your Say on Sport24's brand new Forum!

BlackBerry Stay in the loop on your BlackBerry

iPhone Latest Sport24 news on your iPhone

RSS Feeds Sport news delivered really simply.

Blogs Yes your opinion counts. Get it out there

 
There are new stories on the homepage. Click here to see them.