If You Thought Northern Rock And NUFC Got Stick…
That shirt sponsorship deal was said to be worth £2.5m a year and has since been superseded by Virgin’s £10m a year deal, the value of which we revealed in a recent article.
However, if you thought the stick Northern Rock got was bad, consider Manchester United’s latest commercial deal. They have just signed a seven year shirt sponsorship deal with Chevrolet, which is part of US car ‘giant’ General Motors, starting in 2014 this will clearly be even more lucrative than the current £20m a year they get from Aon.
General Motors wouldn’t still be around to build cars, never mind signing shirt sponsorship deals, if it wasn’t for the intervention of the US and Canadian governments. Between them they pumped in an eyewatering $61.5billion, only £8.1billion of which was loans, the rest of the cash meaning the two governments owned large stakes in a company that almost ceased to be.
To save the company, 14 factories closed and 65,000 people lost their jobs. Exactly what the average taxpayer on the streets of America/Canada will make of huge sums being paid to an English ‘Soccer’ team is not hard to guess.
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