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.
Mar 27, 2015, 4:50 PM EDT
Suarez doesn’t think he could be classified as hooligan after his biting incidents.
Mar 27, 2015, 3:45 PM EDT
The New England Revolution have been on the losing end early in the season before.
Mar 27, 2015, 3:00 PM EDT
No first cap just yet for Kane, though he’s expected to come off the bench in the second half.
Mar 27, 2015, 1:27 PM EDT
A resounding result for the 2016 Olympics hopefuls, away from home.
Mar 27, 2015, 12:18 PM EDT
Stoke City are on the verge of their first-ever top-10 finish in the Premier League, and Mark Hughes has been rewarded for his success.
Mar 27, 2015, 11:04 AM EDT
Another bitter injury blow for Juventus, who now have just one fit, first-team central midfielder.
Mar 27, 2015, 10:11 AM EDT
Lampard is in the Big Apple, where he’ll spend time with his future teammates and watch them play Sporting KC.
Mar 27, 2015, 8:25 AM EDT
With a six-point lead in the league (and a game in hand), do Chelsea really need a “blessing in disguise” to win this year’s Premier League title?
Mar 27, 2015, 8:03 AM EDT
A star-depleted (international duty) Week 4 of MLS should still provide lots of entertainment and quality.
Mar 26, 2015, 11:30 PM EDT
If punditry doesn’t work for Scholes, sign him up as Man United’s top player recruiter. At least he aims high.
Mar 26, 2015, 10:00 PM EDT
Watch in 90 seconds the construction of Avaya Stadium, from Day 1 to Game 1.
Mar 26, 2015, 7:17 PM EDT
Another month out for Sturridge, just when Liverpool’s top-four dreams rest on his shoulders the most.
Mar 26, 2015, 6:54 PM EDT
You couldn’t get this one anymore wrong, UEFA. 10-times worse than racism? Not OK.
Mar 26, 2015, 5:54 PM EDT
Solo said her 30-day suspension was full of therapy, apologies to her teammates and getting herself right for this summer’s World Cup.
Mar 26, 2015, 5:04 PM EDT
This weekend’s EURO 2016 qualifiers marks the halfway point of the group stage, which means it’s do-or-die time for a few hopefuls, and some giants.
Mar 26, 2015, 3:45 PM EDT
The “Special One” received a rather special amount of cash in 2014.
Mar 26, 2015, 3:15 PM EDT
Reports claim Pjanic is ready to leave Roma after four years in the Italian capital.
Mar 26, 2015, 2:42 PM EDT
Xavi is heading to Qatar on a three-year deal, will get paid $11 million per season.
Mar 26, 2015, 2:08 PM EDT
Here’s a look at the players with the highest revenue in 2014.
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