Kieran Maguire cites Ed Woodward as Man United agree 'excellent' £180m+ deal
Man United have ‘pulled a rabbit out of a hat’ by striking an ‘excellent’ front-of-shirt deal with Qualcomm.
That is the view of finance expert Kieran Maguire, who exclusively told Football Insider that United’s new sponsorship deal reinforces comments made by former CEO Ed Woodward.
The Red Devils confirmed that Qualcomm will become the club’s new front-of-shirt sponsor from 2024/25 onwards in a £60million per season deal.
As revealed by Football Insider, United will earn over £180million from the deal after signing a multi-year agreement for a minimum of three years.
It marks a significant upgrade on United’s previous deal with TeamViewer, which was only worth £47million per season to the Manchester club.
Maguire hailed United’s commercial team for their ability to generate more income from sponsorship deals just as it seems their revenue is plateauing.
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“If Man United’s recruitment department was as good as its commercial department, they would be looking at a cabinet full of trophies over the last decade,” Maguire told Football Insider’s Sean Fisher.
“Everytime people think United have reached a plateau in their ability to generate more commercial income, they pull another rabbit out of the hat.
“Despite all of his critics, Ed Woodward’s comments that the club doesn’t need to win football matches to be a success commercially do seem to have some truth behind them.
“It is an excellent deal, and it’s a multi-year deal as well so there is an element of security similar to their new Adidas agreement.
“It will help Man United in terms of budgeting and FFP, but their FFP issues are nothing to do with the commercial department – they have delivered the money.
“They are being let down by the way the club have spent that money.“