Manchester United have agreed a world record-equalling £60m-a-year sponsorship deal with computer chip maker Snapdragon, according to multiple reports.
The contract will take effect from the 2024-25 season and see Snapdragon replace German software company TeamViewer on the front of United’s shirts.
It represents a significant increase on the £47m per year paid by TeamViewer and is believed to be matched in football only by Real Madrid’s €70m (£60m) per season agreement with airline Emirates.
United’s share price tanked around 20 per cent last week after reports that majority shareholders the Glazer family were walking away from sale talks.
But the lucrative deal with Snapdragon, just weeks after agreeing a record-breaking £900m kit deal with Adidas, is a timely boost for the club and their unpopular owners.
TeamViewer signed a five-year sponsorship that was due to run until 2026 but agreed an early end to the deal after attracting fierce criticism from shareholders.
Snapdragon is owned by Qualcomm, a California-based tech company valued at $124bn (£107bn) which has been a global partner of United since last year.
United’s revenue from Snapdragon is the most of any Premier League shirt sponsorship, despite the club going a decade without winning the title.
Current champions Manchester City are believed to receive £67.5m per annum from Etihad, although that deal also includes naming rights to their stadium.
Liverpool’s contract with Standard Chartered is thought to be worth close to £50m a year, as is Arsenal’s agreement with Emirates, which also incorporates stadium naming rights.
Chelsea remain in the market for a new sponsor several weeks into the new season after so far failing to secure a replacement for Three’s £40m-a-season deal.
The Snapdragon was first reported by The Athletic.