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 28, 2015, 3:30 PM EDT
The nation has now changed men’s national team managers 15 times since 2000, and only two of those changes were caretaker moves.
Jul 28, 2015, 1:59 PM EDT
Here’s a look at some of the top deals from another busy day across Europe.
Jul 28, 2015, 1:05 PM EDT
Legendary French midfielder is red-hot favorite to replace Blatter.
Jul 28, 2015, 12:35 PM EDT
Can the Eagles surprise everyone again? With Cabaye running the show, don’t rule it out.
Jul 28, 2015, 11:25 AM EDT
The latest gossip includes a cryptic message from Benzema.
Jul 28, 2015, 10:30 AM EDT
Mourinho: “In my opinion he should be in the top three.”
Jul 28, 2015, 9:54 AM EDT
England international has been ripping it up for City in preseason.
Jul 28, 2015, 9:20 AM EDT
Mourinho’s men are hungry for trophies. All of them.
Jul 28, 2015, 8:15 AM EDT
Putin: “People like Mr Blatter deserve special recognition.”
Jul 27, 2015, 9:45 PM EDT
The Premier League’s big boys each play once more in the USA before heading back to England for the start of the new season.
Jul 27, 2015, 8:39 PM EDT
Afellay makes four ex-Blaugranas on the books at Stoke, where Mark Hughes is aiming for European qualification.
Jul 27, 2015, 7:56 PM EDT
As Bayern chase their fourth straight Bundesliga title (it would be a first), Mats Hummels says the league’s other teams need to stop fearing them.
Jul 27, 2015, 6:06 PM EDT
Drogba has arrived in MLS, and he even got to choose which team he’ll play for — kinda.
Jul 27, 2015, 5:15 PM EDT
Cyle Larin bagged his first pro hat trick on Sunday, somehow outshining David Villa at Yankee Stadium.
Jul 27, 2015, 4:30 PM EDT
Villa, Giovinco, Finlay and more — this week’s MLS Team of the Week.
Jul 27, 2015, 3:00 PM EDT
The first of three newly promoted sides, do the Cherries have what it takes to stay in the Premier League?
Jul 27, 2015, 2:24 PM EDT
JPW dissects the top deals, discusses which clubs have done the best business and which need to get a shift on.
Jul 27, 2015, 1:43 PM EDT
Plenty of preseason action continues out in the Far East.
Jul 27, 2015, 12:50 PM EDT
Can Sherwood rejuvenate Villa and show progress is being made? Losing Benteke and Delph will hurt his chances of doing that.
Jul 27, 2015, 12:02 PM EDT
Here are the latest rumors from around the soccer world.
- Official: Miguel Herrera fired by Mexico days after Gold Cup win, alleged attack on journalist 4
- Tuesday’s Transfer Rumor Roundup: Benzema to Arsenal, Berahino to Tottenham 3
- Premier League 2015-16 season preview: Chelsea 1
- Russian president Vladimir Putin believes Sepp Blatter deserves Nobel Prize 6
- Monday’s Transfer Rumor Roundup: PSG’s $133 million Ronaldo bid, Stones to Chelsea 2
- Amid reports of journalist brawl, Mexico boss Miguel Herrera looks ahead to USMNT showdown 10