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Manchester United Shirt sponsor TeamViewer has confirmed it will not be renewing its partnership with the club – 12 months into their current deal.
The software company confirmed a multi-year deal with United early last year and is said to be worth £235m.
Despite the announcement garnering huge attention, TeamViewer has decided to part ways with United in 2026.
The Daily Mail they say the company’s stock price — which is up 80 percent of its value since replacing Chevrolet — has weighed on them.
The cost of the original deal is said to have been blamed for their current struggles.
TeamViewer’s statement reads: “The brand’s international awareness was clearly increased last year through the partnership.
“However, the company has decided to review its long-term marketing strategy in light of the current macroeconomic environment.”
TeamViewer CEO Oliver Steele added: “Decision makers in companies are becoming more cautious and postponing investment.”
Other factors that affected the company are the war in Ukraine as well as the hesitancy in the technology sector after the COVID-19 pandemic.
United are relaxed about the situation and know they have four years to find a new main sponsor.
Chief executive Richard Arnold said the process of finding new shirt sponsors had been “incredibly successful” in the past with 10 potential candidates at the final stage.
United finished sixth in the Premier League last season with their lowest points ever.
They confirmed the appointment of Erik ten Hag as their new manager earlier this year and he has been tasked with bringing the Red Devils back to the top.
Arnold spoke to fans earlier this summer and admitted that the former hierarchy was not up to par.
“Everyone at the club, from the owners down, accepts that the performances this season have been well below what we expected,” Arnold admitted. “Suffice to say we are not happy with where we are in terms of performance on the pitch.
We are taking decisive action to improve things and there is huge commitment and passion across the club to get back to where we think we belong – challenging and winning titles.
“We feel confident that change comes because of action taken to achieve long-term success. The appointment of Erik ten Hag was the most visible example of that action and the most important.”
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