LONDON (Reuters) - Manchester United has bought its way out of a training kit sponsorship with European logistics firm DHL, with the English Premier League football club saying it can do a better deal.
United signed an agreement with DHL in August 2011 reported to be worth 40 million pounds over four years.
The club said at the time it was the first major English club to sell naming rights to training kit separately from other sponsorships, such as branding on match-day shirts.
Its deal with DHL will now end next June, the New York-listed club said on Friday.
“The significantly increased value of agreements concluded since entering into this agreement, such as our recent $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.”
The GM deal will take effect from 2014 and see the Chevrolet brand appear on the club’s shirts for seven years.
DHL, which would not comment on what United paid to get out of the contract, said it was to remain the club’s logistics partner.
Reporting by Keith Weir; Additional reporting by Matthias Inverardi; Editing by Dan Lalor