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 2, 2014, 1:02 PM EDT
Gerrard: “I thought we were too soft all over the pitch. I thought they wanted it more, which is very disappointing.”
Oct 2, 2014, 11:54 AM EDT
The PST Extra crew sit down to discuss Rooney’s red card and break down Chelsea vs. Arsenal.
Oct 2, 2014, 11:10 AM EDT
Will “the Dutch Roy Keane” end up at Old Trafford after all?
Oct 2, 2014, 10:22 AM EDT
Vegas stadium deal moves one step closer to fruition but a rather large stumbling block has emerged.
Oct 2, 2014, 9:33 AM EDT
Messi continues to be linked with Europe’s richest clubs. Barca have something to say about that…
Oct 2, 2014, 9:04 AM EDT
Garber: “Both the owner and management team in Austria and New York are as committed as ever to MLS, the club and their fans.”
Oct 2, 2014, 8:41 AM EDT
Clyne gets first call up; Shelvey, Gibbs back in, while Shaw, Chambers help U-21’s out.
Oct 2, 2014, 7:49 AM EDT
Uruguayan forward reportedly unhappy at PSG, but can a PL club afford him?
Oct 1, 2014, 11:10 PM EDT
To expect a walk-through against Krasnodar would be a mistake and one the Toffees could pay dearly for.
Oct 1, 2014, 10:28 PM EDT
It’s been a rough go of it lately for Ghana striker Asamoah Gyan.
Oct 1, 2014, 9:30 PM EDT
Who’s more interesting than Jurgen Klopp?
Oct 1, 2014, 8:45 PM EDT
Alves is ready to move to the Premier League. So what clubs might he fit in?
Oct 1, 2014, 7:58 PM EDT
A great deal for the Revs, who will be able to add Sporting players on loan much like NYCFC can add Manchester City players.
Oct 1, 2014, 7:02 PM EDT
Maradona pledged his support for the Palestinian cause back in 2012.
Oct 1, 2014, 6:14 PM EDT
Liverpool’s struggles continue. Here’s three things we learned as they remain winless in four.
Oct 1, 2014, 5:51 PM EDT
Take in a top-flight football match anywhere in Turkey and you’ll be hard-pressed not to see at least a few flares among the fans.
Oct 1, 2014, 5:11 PM EDT
After eight games on Wednesday, here’s what happened around Europe.
Oct 1, 2014, 4:53 PM EDT
The Gunners provided one of their most stunning performances of the season on Wednesday, dismantling Group D opponents Galatasaray 4-1.
Oct 1, 2014, 4:42 PM EDT
Lackluster Liverpool now level on points with Basel, face Real Madrid in next two matches.
Oct 1, 2014, 4:15 PM EDT
“He scores when he wants. He scores when he wants. Danny Welbeck, he scores when he wants.”
- Next step: Las Vegas soccer stadium moves forward, but there’s a catch 1
- Lionel Messi heading to PSG, Chelsea? Not so fast, say Barcelona 1
- $88 million Edinson Cavani linked to Arsenal, Liverpool, Manchester United 3
- Europa League Preview: Everton head to Russia, Spurs host Besiktas 0
- Report: Diego Maradona nearing deal to manage Palestinian National Team 1
- Three things we learned after Liverpool’s latest defeat, this time vs. Basel 6