Manchester United shirt sponsor TeamViewer are currently looking at reviewing their deal with the Reds after they received backlash from an investor.
In 2021, TeamViewer and United agreed a £235m deal to sponsor the shirts of the club until 2026, but in August the firm said that it would not renew the deal. But the German tech company, which specialises in remote access and remote control computer software, are now seeking to change their deal after a scathing letter from three per cent investors, Petrus Advisers.
They wrote: "As active investors we will not tolerate that you spend ca. 1.4x your net profit or over 70 million euros per year on sponsorship contracts with Manchester United and Mercedes Formula 1. You are not SAP, Oracle or Mercedes."
ALSO READ: Why Sancho has taken social media break
When asked to respond to the letter from Petrus Advisers, TeamViewer said: "The international awareness of the brand was clearly increased last year through the partnership [with United]. Nevertheless, the company has decided to review its long-term marketing strategy in light of the current macro-economic environment.
"In addition, the company has already communicated its desire to explore opportunities to amend the existing contract."
Re-negotiating the deal will be a pressing concern for TeamViewer. Currently, the deal is worth £47m per year to United, yet the German company's profits are reportedly only £43.5m.
United are under no obligation to change their current agreement with TeamViewer due to their shirt sponsor being contractually obliged to fulfill the deal. However, should TeamViewer eventually be unable to pay what is owed, the Reds could be left without a shirt sponsor.
READ NEXT:
