TeamViewer and Manchester United have come to an agreement that allows the Premier League club to search for a new front-of-shirt sponsor.
The current five-year partnership between the two, worth £235 million ($322 million), runs until 2026.
However, the German software company has announced that it has struck a “mutually-beneficial agreement” with United that allows the club to buy back the rights to the shirt sponsorship and sell it to another interested party.
The move follows reports that the Glazer family is looking to sell the club. TeamViewer said the arrangement is mutually beneficial.
A TeamViewer 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.
“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.
“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.”
