Apr 8, 2013, 3:01 PM EDT
Manchester United may have massive debt but it continues to head one direction – down.
In a ground-breaking deal United has reached an eight year $183m agreement with AON for the naming rights to the Red Devils’ Carrington training ground. Beginning on July 1st the training ground will be known as the “AON Training Complex.” The training ground name rights further buttresses AON’s commercial relationship with United, which includes sponsorship of United’s training kit, their annual summer tours and friendly matches.
The AON deal compliments other major sponsorship agreements that United has procured including the seven year $546m deal they signed with General Motors to have “Chevrolet” on their shirts starting in 2014. An AON source said the company were delighted with the training ground deal. “We are very aware and respectful of the fact some people will continue to call the training complex Carrington but in time, we hope they come to understand what the AON brand stands for,” said the source.
The sale of the Carrington sale prompted suggestions that United could end up selling the name rights to Old Trafford. That worry, however, was quickly dismissed by Ed Woodward, United’s executive vice-chairman, who confirmed that “Old Trafford will not be sold.”
Since borrowing $787m to complete their $1.2b takeover of the club seven years ago the Glazer family has become increasingly active in reducing Manchester United’s debt. In addition to massive sponsorship deals the decision to go public on the New York Stock Exchange last August has (as of February 2013) already cut the club’s debt to $550m, down 17 percent from a year earlier.
Manchester United supporters will hope that the next major sponsorship deal the club agrees to is an extension of the current $463m kit supply deal with Nike. February marked the start of an exclusive six-month negotiating period between United and Nike where part of the alleged agenda was to fund a bid to sign Cristiano Ronaldo from Real Madrid.
For now the new AON deal ensures that if the Portuguese winger does make a dramatic return to Old Trafford, United already have an additional $23m per year to fund his wages.
Sep 3, 2015, 8:40 AM EDT
Klinsmann’s side move up, but remain out of the top 20.
Sep 3, 2015, 8:00 AM EDT
Chicharito has the following message for United’s fans after four years at Old Trafford.
Sep 2, 2015, 9:57 PM EDT
The NBC Deadline Day show is here in podcast form.
Sep 2, 2015, 9:32 PM EDT
A fraction of the transfer fee has made its way to the lower division team in France that helped mold Anthony Martial into the $55 million player he is today.
Sep 2, 2015, 8:18 PM EDT
Rog and Davo break down Chelsea’s loss to Crystal Palace and Swansea’s stylish win over Manchester United. Plus, a recap of transfer deadline day.
Sep 2, 2015, 6:56 PM EDT
Tim Howard looked good for Everton last weekend, but the U.S. coach says it’s too close to the Mexico game to make a change.
Sep 2, 2015, 5:42 PM EDT
The former Chelsea defender is no longer listed on the team’s website and was left out of both the club’s domestic and European squads.
Sep 2, 2015, 4:29 PM EDT
The paperwork was late, and FIFA rejected the deal, but the two sides still wish for it to be completed.
Sep 2, 2015, 3:40 PM EDT
The San Siro wanted Zlatan back, but he is happy in France.
Sep 2, 2015, 2:46 PM EDT
Villa had a very quiet Deadline Day, but they tried to make a splash.
Sep 2, 2015, 2:07 PM EDT
After the match, Noble said it was a tackle that happens “10 times a game” and that he felt it didn’t even deserve a yellow card.
Sep 2, 2015, 1:15 PM EDT
After finishing second in its group thanks to a 3-1 win over the Netherlands, Herzog’s Yanks toppled England’s U-20 team this summer. Now: the U-21s.
Spain’s Del Bosque says De Gea’s Euro spot in trouble without playing time; Speaks on Chelsea’s Costa
Sep 2, 2015, 12:31 PM EDT
“He needs to be professional and move on from this episode,” Del Bosque said of the Manchester United keeper.
Sep 2, 2015, 11:29 AM EDT
Unified Germany hasn’t medaled since 1964 in Tokyo (Bronze). East Germany won gold in 1976.
Sep 2, 2015, 11:12 AM EDT
“The Financial Fair Play today is too complicated to be efficient,” said the Premier League’s longest-tenured manager. “There’s a need to simplify the process.”
Sep 2, 2015, 9:24 AM EDT
Bournemouth took a big hit on transfer deadine day, but it had nothing to do with sales or purchases.
Sep 2, 2015, 8:47 AM EDT
Let’s dig into the figures, at least in terms of the 20 Premier League clubs, including the controversial amount of players on loan from Chelsea.
Sep 2, 2015, 8:16 AM EDT
We’re just a few weeks away from further information on the strength of the cases against Sepp Blatter’s FIFA.
Sep 1, 2015, 10:08 PM EDT
If both sides really wanted to make this transfer happen, they could have. Is it possible neither team wanted the deal to get done?
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