On Monday, GM, the biggest U.S. automaker, announced its Chevrolet brand would sponsor Manchester United, the hugely popular club’s shirts for the next seven years.
The car company will replace Aon, whose partnership with United began in the 2010-11 season, United said.
This sponsorship deal makes Chevrolet just the fifth company to sponsor the soccer team’s jersey in its 134-year history.
GM said then it wanted to tap in to Manchester United’s estimated 659 million fans around the world to boost the image of the automaker’s Chevy brand, especially in Asia. GM last week also said it signed a four-year auto sponsorship deal with Manchester United rival Liverpool.
The value was “undisclosed” but Reuters says the seven-year agreement is worth nearly $600 million, or $60 million to $70 million a year.
On the same time, the old jersey sposnsor, Aon Plc who will end the deal in 2014 plans to transition into a second phase of its relationship with Manchester United by becoming the title sponsor of both Manchester United’s Business Network and the Manchester United Foundation.
Manchester United’s Business Network is an organization where sponsors, global executives and heads of state can gather to discuss critical issues in the economy such as global risks, cross-border trade, supply chains, energy resources, talent, healthcare, high performing teams and diversity – all in the context of a shared interest in the world’s global game and the world’s number one team.