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.
Oct 25, 2014, 11:44 PM EDT
The Timbers’ postseason aspirations are hanging in the balance, but this 2-0 win over FC Dallas has certainly put them in a nice spot.
Oct 25, 2014, 10:31 PM EDT
Final: New England Revolution 1, Toronto FC 0
Oct 25, 2014, 9:49 PM EDT
AS Roma defender Ashley Cole has drawn the interest of MLS teams once again.
Oct 25, 2014, 8:48 PM EDT
Cristiano Ronaldo praises manager Louis van Gaal and is convinced that the 63-year-old will lead Manchester United to its former glory.
Oct 25, 2014, 7:23 PM EDT
Short recap and highlights of Saturday’s Round 9 Premier League matches.
Oct 25, 2014, 7:08 PM EDT
With three games on the slate, here’s what you can look forward to on Sunday.
Oct 25, 2014, 6:18 PM EDT
Final: Montreal Impact 1, D.C. United 1
Oct 25, 2014, 5:23 PM EDT
The Chicago Fire are seeking to bolster the strength of their roster, examining the possible signing of ex-Tottenham Hotspur midfielder Jaime O’Hara.
Oct 25, 2014, 4:55 PM EDT
A sleepy game for over an hour, Seattle and L.A. used the last hour to stage a contest worthy of a trophy-winning event.
Oct 25, 2014, 4:29 PM EDT
Pique speaks of his handball in Barcelona’s 3-1 defeat to Real Madrid: “It was unintentional.”
Oct 25, 2014, 3:47 PM EDT
The L.A. Galaxy and Seattle Sounders are scoreless through 45 minutes at CenturyLink in Washington.
Oct 25, 2014, 3:30 PM EDT
Leeds United have fired manager Darko Milanic after only 32 days leading the squad.
Oct 25, 2014, 2:59 PM EDT
Several fun games whet the appetite for a massive top of table Sunday tilt between Bayern Munich and Borussia Monchengladbach.
Oct 25, 2014, 2:29 PM EDT
With six games on Saturday in the PL, here’s what happened.
Oct 25, 2014, 2:20 PM EDT
Wilfried Bony scored both goals for Swans, 2-0, who cruised to the win against the suddenly-struggling Foxes.
Oct 25, 2014, 2:07 PM EDT
Will the Sounders handle the Galaxy and expectations to clinch home-field throughout the playoffs?
Oct 25, 2014, 1:54 PM EDT
“Maybe they [Stoke] created two possibilities, not chances and that’s a great team effort,” Koeman said of his Saints.
Oct 25, 2014, 1:47 PM EDT
Despite going behind earlier, Real came roaring back to win the first El Clasico of 2014-15.
Oct 25, 2014, 1:28 PM EDT
Watch and enjoy, then follow the second half live on NBC and online via Live Extra.
Oct 25, 2014, 12:59 PM EDT
Neymar and Ronaldo stealing the show so far, as four on yellows for Barca. Live updates, here:
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- Real Madrid 3-1 Barcelona: Real win El Clasico, Suarez returns 5
- Sunderland 0-2 Arsenal: Sanchez seals win after horrendous defending (video) 0
- VIDEO: Russell Brand crashes Sam Allardyce’s presser with a huge kiss 3