By Andrea Figueras
TeamViewer, the German software company, announced that it will be scaling back its sponsorship agreement with Manchester United starting from the next season. This decision comes as the English soccer club expands its partnership with Qualcomm, with the chip giant’s Snapdragon brand set to be showcased on their shirt.
As a result of this move, TeamViewer anticipates significant savings in marketing expenses. The company revealed that a portion of these savings will be reinvested in other branding and marketing initiatives. Additionally, this adjustment is expected to contribute to an approximate increase of EUR17.5 million ($18.8 million) to TeamViewer’s adjusted earnings before interest, taxes, depreciation, and amortization in 2024, and further EUR35 million in 2025.
The agreement reached between Manchester United and TeamViewer in late 2022 allowed the soccer club to regain the rights to its main jersey sponsorship. This enabled them to embark on the search for a new long-term shirt sponsor, which has now been successfully concluded.
Under the terms of the new partnership agreement, TeamViewer gains the opportunity to run advertisements across digital channels, as well as within the stadium. The agreement also encompasses hospitality and events, along with ongoing collaborative technology use cases.