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.
Jul 29, 2014, 12:37 PM EDT
Liverpool sign talented Belgian teenager, will loan him back to Lille this season.
Jul 29, 2014, 12:11 PM EDT
Even after calling African players “banana eaters” this man is set lead the Italian FA.
Jul 29, 2014, 11:25 AM EDT
England star commits his future to the Toffees.
Jul 29, 2014, 11:10 AM EDT
Valencia finally signs on, as Hammers splash the cash in search of goals.
Jul 29, 2014, 10:35 AM EDT
Garber: “MLS will not expand to Miami unless we have a downtown site for the stadium.”
Jul 29, 2014, 9:42 AM EDT
Howard to call games, be studio analyst, for up to 10 PL games on NBC Sports this season.
Jul 29, 2014, 9:19 AM EDT
A shoving match or something more sinister in Seattle?
Jul 29, 2014, 8:35 AM EDT
Borussia Dortmund star turns down new deal, alerts European giants.
Jul 29, 2014, 7:51 AM EDT
England youngster told he’s “not fit enough” and ordered to train on his own by van Gaal. Ouch.
Jul 29, 2014, 12:37 AM EDT
Sounders’ tendency to collapse resurfaces during the Galaxy’s biggest win of the season.
Jul 28, 2014, 11:07 PM EDT
A terrible move could get worse if Chelsea can’t move the Spanish striker.
Jul 28, 2014, 10:13 PM EDT
Belgian international intends to stay at White Hart Lane, with a new, five-year deal on the table.
Jul 28, 2014, 9:17 PM EDT
Napoli, Borussia Dortmund linked to the potential United castoffs.
Jul 28, 2014, 8:22 PM EDT
Colombian international expected to play Saturday against Valencia.
Jul 28, 2014, 7:37 PM EDT
Time in the NASL will give the 24-year-old needed minutes.
Jul 28, 2014, 6:48 PM EDT
Brazilian’s injury testing United’s depth on the right side.
Jul 28, 2014, 5:54 PM EDT
U.S. international’s knee surgery will sideline him for “several weeks.”
Jul 28, 2014, 4:57 PM EDT
Two Saints look to follow their former manager to North London.
Jul 28, 2014, 4:03 PM EDT
Timber’s game-winning goal in Montréal separated him from a tight field.
Jul 28, 2014, 3:20 PM EDT
After two on-pitch selfie’s occur with players over the weekend, security needs to be stepped up.
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