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

Zamora joins Redknapp chorus

2014-10-20 19:16

 

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

 

Watch: 5 skills to improve your BMX riding

Learn some great skills that will help your riding on the road and on the track.

 
 

Where were you when you last felt alive?

Tips on how to set your fitness goals
This all-terrain vehicle is badass!
The TRUTH about painkillers and exercise
WIN! Where were you when you last felt alive?
Fixtures
20 October 2014
West Bromwich Albion v Manchester United, The Hawthorns 21:00
25 October 2014
West Ham United v Manchester City, Boleyn Ground 13:45
Liverpool v Hull City, Anfield 16:00
Southampton v Stoke City, St. Mary's Stadium 16:00
Sunderland v Arsenal, Stadium of Light 16:00
West Bromwich Albion v Crystal Palace, The Hawthorns 16:00
Swansea City v Leicester City, Liberty Stadium 18:30
26 October 2014
Burnley v Everton, Turf Moor 15:30
Tottenham Hotspur v Newcastle United, White Hart Lane 15:30
Manchester United v Chelsea, Old Trafford 18:00
Logs
Team P W PTS
Previous Results

Date Home Team Result Away Team
Vote

Who is the best new player in the English Premiership this season?

 
 
Men
Women
Love 2 Meet
Featured

Got something you'd like to get off your chest? Got a burning desire to air an opinion? If so, be sure to sign-up on Sport24's FORUM!

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.