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haha. nice
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http://www.manutd.com/en/News-And-F...-seven-year-shirt-deal-beginning-in-2014.aspxGeneral Motors and Manchester United today announced that the world's most popular football club's shirt sponsor will be Chevrolet, beginning with the 2014/2015 season.
Chevrolet, the current Official Car Partner of the Club, will become only the fifth shirt sponsor in the Club’s 134 year history.
Announcing the deal, signed for an undisclosed amount, United’s Commercial Director, Richard Arnold, said:
“This is a fantastic, long-term deal for the Club. We have been partners with Chevrolet for only six weeks, but already they have produced some fantastic ideas that will benefit both the partnership and our 659 million followers around the world. They are a key partner on our current tour and I know they have enjoyed experiencing the buzz generated by our fanatical support and the sell-out crowds in South Africa, China, and Europe.
"It is a great thrill for those of us who work with partners all year round when an existing partner steps up to being one of our principal partners. This commitment to United and its fans will bring real benefits to everyone who cares about the Club.”
The US-based car company will replace Aon, whose partnership with United began in the 2010/11 season.
Alan Batey, General Motors’ North America Vice President, U.S. Sales and Service said:
“We are extremely proud to connect our brand, Chevrolet, with Manchester United and its passionate supporters all around the world. Manchester United’s statistics are impressive, but this relationship goes far beyond the numbers – this relationship is about connecting our brand with the deep-seated emotion that surrounds the team everywhere it goes.
"When you consider the core values of Chevrolet, our passionate customers around the world, and our rich 100 year history, the partnership with Manchester United is a perfect fit. And, to be only the fifth name on the iconic red jersey is a genuine honour. We very much look forward to the road ahead and the opportunities we have in partnering with such a legendary club.”
http://uk.reuters.com/article/2012/07/30/uk-gm-manu-idUKBRE86T13220120730General Motors Co signed a sponsorship deal with Manchester United valued at as much as nearly $600 million (382 million pounds) one day after the U.S. automaker's global marketing chief was ousted in connection with a deal with the popular English soccer club.
Under the seven-year deal, which makes Chevrolet the jersey sponsor starting in the 2014-2015 season, GM will pay $60 million to $70 million a year -- at least double the current fee paid by insurance broker Aon, said a person with knowledge of the contract who asked not to be identified. GM also will pay the club a $100 million activation fee, the person said.
GM and Manchester United officials declined to reveal terms of the deal, which is separate from another sponsorship agreement announced in May with Manchester United. Terms of that five-year deal were not disclosed, but analysts said it is likely worth at least tens of millions of dollars.
GM also declined to discuss why global marketing chief Joel Ewanick was pushed out on Sunday. A GM spokesman previously said Ewanick, who has declined to comment on why he left, "failed to meet the expectations that the company has for its employees.
A source told Reuters that Ewanick failed to properly report financial details about a recent sponsorship deal with the soccer club. It was unclear which deal that refers to as GM on May 31 said it would take over as Manchester United's automotive sponsor, replacing Volkswagen's Audi brand.
Manchester United's current jersey sponsorship deal is with Aon, which pays $30 million a year for the right to put its name on the front of jerseys worn by players during games. That practice is quite lucrative for soccer clubs around the world, but is not allowed by most U.S. sports leagues.
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Like every other Fat BrazilianHow has Anderson looked?
Awesome goal. Loose defense from Carrick though.Nifty finish for Hannovers 3rd there
The IPO has started and you can follow it here http://www.google.com/finance?q=NYSE:MANU&sq=NYSE:MANU&sp=1
General feeling is that it's been a bit of a dud, sold at $14.05 after $16-20 per share was initially expected.
Dropped a bit since then, and while that won't effect the money the Glazers and the club it may well have consequences for the club down the track renegotiating their debt.
Apparently the debt repayment will only save the club a few million a year so pretty much just a revenue raising exercise for the Glazers. One thing I didn't know is that all the costs of the IPO were taken out of the clubs share of the proceeds, not the Glazers.
Smart people those Glazers. sillys, but smart people.