Man United are seen as a “waste of money” by investors following the club’s recent agreement with TeamViewer.
That is according to finance expert and Football Insider columnist Kieran Maguire, speaking exclusively after United struck a five-year front-of-shirt sponsorship deal worth £235million with the global technology brand.
The club’s current front-of-shirt sponsor Chevrolet pays United £64m per season, £17m more than the club will receive annually from TeamViewer.
Shortly after the deal was announced, TeamViewer’s stock price plummeted by 16 per cent.
Maguire explained that the pandemic has had an impact in terms of what sponsors can afford to shell out but that he is generally pessimistic about United’s latest deal.
He told Football Insider correspondent Adam Williams: “TeamViewer’s share price has collapsed because the market thinks it’s a waste of money.
“Are they being linked with a very successful product? Well, United haven’t won a lot recently so that doesn’t look like great news for the sponsor.
“They can afford it but it’s just under 10 per cent of TeamViewer’s annual revenue which is going on a sponsorship deal.
“Covid has played a role in sponsors not being able to pay as much. There are so many organisations that are having to cut back on employment and pay raises for their staff as a result of Covid.
“If you’re a company making closures and redundancies and you’re seen to be spending a lot of money on a front-of-shirt sponsorship deal, from a public relations perspective it looks horrendous.”
United will feature TeamViewer’s logo on the front of their shirts from the outset of the 2021-22 campaign.
On the pitch, Ole Gunnar Solskjaer’s side are 2nd in the league table with an eight-point cushion in the race for the top-four.