Wembley Stadium
The Red Devils' new deal with Qualcomm is worth a reported £65 million per year. Matthew Childs/Pool via Reuters

Manchester United have agreed a deal with US technology company Qualcomm to replace TeamViewer as their shirt sponsor from next season, the Premier League club have confirmed.

Qualcomm, whose Snapdragon processors are commonly used in products such as smartphones, computers, chargers and gaming devices, agreed a lucrative partnership that will see their logo front home, away and third shirts for United's men's and women's teams from the 2024/2025 campaign.

Worth a reported £65 million per year, the new deal is richer than the current biggest shirt sponsorship package, which is held by Real Madrid and Fly Emirates.

California-based Qualcomm is valued at around £107 billion and has been one of United's global partners since last year.

Since 2021, the Red Devils have been sponsored by German business software company TeamViewer.

They agreed to a five-year contract with Manchester United that was worth £47 million per year — $59 million at current exchange rates.

However, the company came under pressure from shareholders during the pandemic, who described the five-year £235 million agreement with United as "appalling judgement".

Consequently, the two parties "reached a mutually beneficial agreement" in late 2022 for United to buy back the rights, with TeamViewer remaining as a sponsor in a reduced capacity through the end of the pact.

Manchester United will see out the remainder of the current season with their shirts featuring TeamViewer logos after the decision was taken to delay the rebranding until next year given the number of shirts already in circulation.

An official statement from the club read: "Manchester United PLC has agreed to an expanded strategic collaboration with Qualcomm Technologies, Inc, that will see the Snapdragon brand displayed on the club's famous shirts."

News of this deal comes after the club agreed a 10-year renewal with Adidas to be the team's kit manufacturer through 2035, in an agreement worth a minimum of £900 million.

It is the largest deal in the Premier League and on par with what Real Madrid and Barcelona make.

Commercial revenue accounted for 44 per cent of United's total last year and is a critical component of the club's financial model to invest in players and comply with financial fair play rules.

However, the club has been in turmoil of late following a failed attempt by its owners to sell the club.

The Glazer family, who bought Manchester United for £795 million in 2005, have loaded the club with high-interest debt taken out about £200 million in dividends and other payments, and overseen a period of managerial churn and under-investment since Sir Alex Ferguson's retirement in 2013.

Servicing that debt has cost United more than £1 billion, while United's latest accounts revealed the club's bill currently stands at £725 million.

As a result of the financial situation, amid worsening backlash from fans, the Glazers announced in November last year they were considering selling the club.

In a statement, United said their owners would look at options to bring in new investment including "a sale or other transactions involving the company".

But by reportedly holding out for an offer of £10 billion or above, the Glazers have yet to relinquish control, with the season already underway.

Last week, Manchester United shares saw their biggest ever one-day fall after a report emerged that the team's US owners were going to take it off the market.

The club's shares fell by more than 18 per cent in New York on Tuesday.

That came after the Mail on Sunday reported that no potential buyer had matched the club's asking price.

Despite strong and continuing interest, prospective bidders Sheikh Jassim of Qatar and British billionaire Sir Jim Ratcliffe have not come close to offering that amount.

United currently sit 11th in the Premier League table after a 3-1 defeat to old rivals Arsenal last Sunday.

Following the game, struggling winger Jadon Sancho was involved in a public spat with manager Eric Ten Hag.

The English footballer was not included in Manchester United's matchday squad against Arsenal and Ten Hag had claimed it was because of the player's sub-par performances in training.

"Jadon, on his performance in training, was not selected. You have to reach a level at Manchester United every day and we can make choices in the front line. So for this game, he was not selected," Ten Hag said.

These comments from the Dutch boss did not go very well with Sancho, who then took to social media to retaliate. Sancho responded with a now-deleted statement on social media platform X, formerly known as Twitter, saying he had been made a "scapegoat" at Old Trafford.