Man Utd sponsor already planning to ditch the club after share prices plummet

Manchester United shirt sponsor TeamViewer has confirmed it will not be renewing its partnership with the club - 12 months into their current deal.

The software company confirmed a multi-year agreement with United early last year and it is said to be worth £235 million.

Despite the announcement garnering massive attention, TeamViewer have decided they will part ways with United in 2026.

The Daily Mail report the company's share price - which has 80 per cent of its value since they replaced Chevrolet - has forced their hand.

The cost of the initial deal is said to have been blamed for their current struggles.

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A TeamViewer statement reads: "The international awareness of the brand was clearly increased last year through the partnership.

"Nevertheless, the company has decided to review its long-term marketing strategy in light of the current macro-economic environment."

TeamViewer chief executive Oliver Steil added: "Decision-makers in companies are becoming more cautious and are postponing investments."

Other factors which have impacted the company are the war in Ukraine as well as hesitation in the tech-sector following the COVID-19 pandemic.

United are relaxed about the situation and know they have four years to find a new primary sponsor.

CEO Richard Arnold said the process of finding new shirt sponsors was 'incredibly successful' previously with 10 potential candidates at the final stage.

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United finished sixth in the Premier League last season with their lowest-ever points tally.

They confirmed the appointment of Erik ten Hag as their new manager earlier this year and he's been tasked with taking the Red Devils back to the top.

Arnold spoke to fans earlier this summer and admitted the former hierarchy was not up to standard.

"Everyone at the club, from the owners down, accepts that performances this season have been well below what we expect," Arnold admitted. "Suffice to say, we are not happy with where we are in terms of performance on the pitch.

We are taking decisive action to improve things and there is huge commitment and passion across the club to return to where we think we belong – challenging for, and winning, titles.

"We feel confidence that change is coming because of the action being taken to drive long-term success. The appointment of Erik ten Hag was the most visible example of that action, and the most important."

So far in the transfer window, United have signed Tyrell Malacia, Christian Eriksen and Lisandro Martinez.