Football

Manchester United owners buy out £40m deal

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United want to make room for another sponsor. (©GettyImages)
United want to make room for another sponsor. (©GettyImages).

Manchester United have made the surprise move to buy back the sponsorship rights for their training kit from German logistics company DHL in the hope of securing a more lucrative deal.

DHL had agreed a deal of around £40 million in late 2011 to brand Manchester United's training wear - an agreement that was the first of its kind in the Premier League.

A four-year deal was signed between the two parties but, Manchester United have confirmed, this will now end in June of 2013 rather than in 2015.

The theory behind the buyout is that Manchester United are expecting to find a more profitable deal for their line of training clothes following the record contract recently signed with General Motors to sponsor matchday shirts.

The club said in a statement: "The significantly increased value of agreements concluded since entering into this agreement, such as our recent $559 million world record shirt sponsorship with General Motors, leads us to believe that there should be strategic opportunities to further optimise the value of these rights."

General Motors will replace AON on Manchester United's shirts in 2014, with the Chevrolet brand to emblazon the Old Trafford's club kit for seven years.

Manchester United are also reportedly on the verge of agreeing a new contract with kit manufacturer Nike in the region of £1 billion.

Topics:
Football
Premier League
Manchester United
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