MX23RW : Wednesday, September 26 07:21:08

Manchester United buy out DHL training kit deal

Man Utd buy out training kit deal
© PA Photos
Manchester United announce that they have bought themselves out of their £40m contract with training kit sponsors DHL.

Manchester United have announced that they have bought themselves out of their contract with training kit sponsors DHL.

The Premier League club signed a four-year deal worth £40m with the logistics company in 2010.

However, they have now ended their agreement in the belief that they can "further optimise the value of these rights".

"We have successfully negotiated an early buy-out of our training kit agreement with DHL effective 30 June, 2013," read 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 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 club recently agreed a record £500m deal with General Motors to become the team's main shirt sponsors from 2014.

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