Apr 8, 2013, 3:01 PM EST
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.
Dec 19, 2014, 11:20 PM EST
Harry Redknapp believes he could be Ravel Morrison’s “last chance” to prove he is ready to play top-flight football.
Dec 19, 2014, 10:25 PM EST
Since returning from injury, the England international has been key to United’s six-game win streak.
Dec 19, 2014, 9:40 PM EST
Rog and Davo are joined by Downton Abbey’s Laura Carmichael, who discusses her short stint selling hot dogs at St. Mary’s and the rivalry between Southampton and Portsmouth.
Dec 19, 2014, 8:50 PM EST
With 45 points through 17 matches, Bayern Munich is having the best season in Bundesliga history.
Dec 19, 2014, 8:00 PM EST
The opening weekend of MLS play features Orlando City SC and New York City FC facing off in a battle of expansion teams.
Dec 19, 2014, 7:10 PM EST
Newcastle and Sunderland may be bitter rivals, but their managers are telling supporters to behave on Sunday.
Dec 19, 2014, 6:20 PM EST
The Blues’ boss said his Belgian playmaker can become a Chelsea legend, but must win titles first.
Dec 19, 2014, 5:30 PM EST
England’s number one keeper finally put pen to paper with a new deal that will keep him at the Etihad until 2019.
Dec 19, 2014, 4:40 PM EST
The Leicester City boss was also fined $15,000 by the FA following his altercation with a fan.
Dec 19, 2014, 3:55 PM EST
CR7 and Howard, it seems, are among the few blessed with tons of talent and even more desire to work.
Dec 19, 2014, 3:20 PM EST
In the Premier League, Brad Guzan is tasked with keeping Manchester United off the scoreboard.
Dec 19, 2014, 2:05 PM EST
Orlando City founder and president Phil Rawlins described Shea as a big addition to the squad.
Dec 19, 2014, 1:43 PM EST
Altidore’s production for his country and in the Eredivisie prove he’s a much better player than his horrible spell at Sunderland.
Dec 19, 2014, 12:52 PM EST
According to The Daily Express, Man Utd’s man if Mats Hummels won’t come over from Borussia Dortmund is Nicolas Otamendi of Valencia.
Dec 19, 2014, 12:00 PM EST
Where and how to watch all the PL games during Week 17.
Dec 19, 2014, 11:38 AM EST
“He had to make a step back in his recovery,” said Southampton boss Ronald Koeman.
Dec 19, 2014, 10:50 AM EST
Villa Park hasn’t been a fortress for the Villans, and that’s underlined when bigger teams visit.
Dec 19, 2014, 10:10 AM EST
Sporting also added Hungarian striker Kristian Nemeth and Haitian mid James Marcellin.
Dec 19, 2014, 10:02 AM EST
Here’s how PST’s lead writer and editor sees things panning out this weekend.
Dec 19, 2014, 9:06 AM EST
Mangala on visitors to the Etihad: “Normally, teams that are coming here play more defensively.”
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