Manchester United has unveiled a substantial sponsorship agreement with Qualcomm Technologies, a US-based company. Starting from the next season, the Snapdragon brand will take the place of the TeamViewer logo on their shirts.

Although the exact financial terms of the agreement were not publicly disclosed by the Premier League club, indications from reports suggest they were targeting a deal valued at approximately £60 million ($75 million) annually. This figure is believed to equal or possibly even exceed the previous largest shirt sponsorship deal in football history.

Qualcomm has been one of United’s global partners since last year.

“Manchester United plc has agreed to an expanded strategic collaboration with Qualcomm Technologies, Inc, that will see the Snapdragon brand displayed on the front of the club’s famous shirt,” the club said in a statement confirming the agreement.

It added: “Under the expanded agreement, Snapdragon will become Manchester United’s front of shirt partner from the start of the 2024/25 season, featuring on the home, away and third kits of the men’s and women’s teams.”

United have not won the Premier League since former manager Alex Ferguson retired in 2013.

Erik ten Hag’s team have won just two of their first four league matches this season, with fans voicing their frustration at unpopular owners the Glazers.

United’s share price tumbled last week after reports that the Glazers had halted plans to sell the club.

Snapdragon processors feature in smart-phones, PCs, virtual reality systems and gaming devices.