Manchester United shirt sponsor 'could pull out of £235m deal', it would be a major blow
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TeamViewer are under increasing pressure to pull out of their shirt sponsorship deal with Manchester United, according to reports.
United agreed a £235 million, five-year deal with the global technology company in March 2021, with the partnership beginning from the 2021/22 season.
TeamViewer are the principal shirt sponsor of United, with the logo adorning the Red Devils' home, away and third kits.
Speaking after the deal was announced, TeamViewer chief executive Oliver Steil said: "We are very excited about this partnership, as it will significantly expand our brand positioning and it will help us to market our comprehensive solutions portfolio to all customer segments globally.
"With Manchester United and TeamViewer, two global winning teams join forces: Together as Team United we can bring the fan experience in the legendary Theatre of Dreams to a new level."
Over 18 months on, however, there are reportedly growing concerns over the partnership with United.
Are TeamViewer pulling out of Man Utd?
The Telegraph report that there are 'growing concerns' that TeamViewer could attempt to back out of the contract entirely.
It is claimed that the company was sent a letter by London-based firm Petrus Investors, which holds a three per cent stake in TeamViewer.
It reads: "As active investors we will not tolerate that you spend ca. 1.4x your net profit or over €70 million per year on sponsorship contracts with Manchester United and Mercedes Formula 1. You are not SAP, Oracle or Mercedes."
It is also claimed that investors have told TeamViewer that the deal was 'a sign of hubris and appalling judgment'.
After the warning, a TeamViewer spokesperson said that the 'international awareness of the brand was clearly increased last year through the partnership', but 'the company has decided to review its long-term marketing strategy in light of the current macro-economic environment'.
They added: "In addition, the company has already communicated its desire to explore opportunities to amend the existing contract."
As per SportsPro, the company communicated its desire not to extend the five-year deal in August, with the same source claiming that TeamViewer's share price had fallen by 'more than 71 per cent' since originally agreeing the United deal.