Manchester United Scores Big with Qualcomm: £60M Per Year Game-Changer

Manchester United Ltd MANU has confirmed that it will put U.S. technology company Qualcomm Inc's QCOM Snapdragon brand on the front of the club's iconic jerseys, replacing TeamViewer.

The company has agreed to an expanded strategic collaboration with Qualcomm that will see the Snapdragon brand displayed on the front of the club's famous shirt.

Under the expanded agreement, Snapdragon will be the shirt partner on the home, away, and third kits of the men's and women's teams. 

The club did not reveal the financial details of the deal, but The Athletic reported Qualcomm and Manchester United had agreed on a contract for a minimum of three years, "targeting an agreement worth £60 million ($74.92 million) per year".

In December, United and TeamViewer reached an agreement that allowed the club to buy back the rights to their front-of-shirt sponsorship. 

The club have activated the mutual agreement to move TeamViewer from shirt sponsor to global partner.

The club announced a deal in August 2022 to promote Qualcomm's subsidiary brand, Snapdragon, which powers many of the world's premium smartphones, PCs, gaming devices, connected cars, smart wearables, and more.

Their deal with Qualcomm follows the £900 million 10-year renewal signed with kit supplier Adidas in July.

This deal follows a 10-year renewal with Adidas to be the team's kit manufacturer through 2035 in an agreement worth a minimum of £900 million. 

Recently, Manchester United owners, the Glazer family, announced to take the club off the market as it failed to get offers that matched the offer price.

Price Action: QCOM shares are up 0.27% at $111.53 during the premarket session on the last check Wednesday. MANU shares are up 0.15% at $19.76.