Chevrolet Won't Extend Sponsorship Deal With Manchester United After 'Massively Overpaying'
Chevrolet will no longer be seen on Manchester United shirts from 2021 with the American company not interested in signing a new deal after 'massively overpaying' in the past and seeing no success.
The American car manufacturer has been United's shirt sponsor since 2014, signing the deal in 2012 when the club were still battling for league titles, but there has been no success in the league in the time they've been on the shirt.
Chevrolet spent £410 million to sponsor the team for seven years but according to the Daily Mail they won't be extending the deal with bosses at parent company General Motors unimpressed with the team.
One insider told the newspaper, "It was doomed from the start. The feeling within was that Chevrolet had massively overpaid and it was never going to get done again."
Whilst the deal was never likely to be repeated it certainly might have helped the Red Devils' negotiating position if they'd won the league or Champions League whilst wearing Chevrolet on their shirts.
Things have got even worse this season with the team never further from claiming major honours. After just eight games they sit two points above the relegation zone and 15 points off top of the table Liverpool.
On the deal with Chevrolet a club spokesperson told the newspaper "Chevrolet is a fantastic partner. The sponsorship continues to achieve the brand and business objectives for both parties and we will continue to work to activate and maximise it."
Despite that it is believed that the club have already begun looking for a new sponsor to take over from the Americans at the end of next season.
In relation to the company overpaying for the deal global marketing chief Joel Ewanick, who signed the deal, was sacked just 48 hours after the deal was announced.
The company paid significantly more than previous sponsorship deals that the club had in place with AON paying £19.6 million-a-season, AIG paying £14.1 million-a-season and Vodafone paying £8 million-a-season, in comparison to the current £58.6 million-per-season.
Ed Woodward will be hoping to find a deal anywhere close to the current one and fans will be hoping his ability to do those negotiations are better than his ability in the transfer market.