Manchester United has reached a settlement on curtailing its training kit sponsorship deal with logistics company DHL in order to strike a more lucrative commercial agreement for the rights, reports SportBusiness. DHL upgraded its relationship with United in August 2011 to become its first official training kit sponsor.
DHL had been United's official logistics partner for a year, but the new four-year agreement, worth £40 million, allowed the company's logo to be included on the club's training kit during domestic competitions.
The agreement dwarfed the revenues that the majority of United's Premier League rivals generated for their main shirt sponsors, but United has now negotiated an early conclusion to the deal at the end of this season.
"We have successfully negotiated an early buy-out of our training kit agreement with DHL effective 30 June 2013," United said in a statement.
"DHL will then continue as our global logistics sponsor. The significantly increased value of agreements concluded since entering into this agreement, such as our recent US$559 million world-record shirt sponsorship with General Motors, leads us to believe that there should be strategic opportunities to further optimise the value of these rights."
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