Manchester United seeks to cash in as sponsor DHL is sent packing
October 26, 2012 -- Updated 1054 GMT (1854 HKT)
Manchester United's $64 million training kit sponsorship deal with DHL was agreed in 2010.
- Manchester United buys out DHL from training kit sponsorship package
- EPL club hopes to make more money by agreeing an alternative deal
- United signed a world-record $559 million sponsorship deal with GM in July
- The club has recently signed partnerships with Bakcell and Kagome
(CNN) -- Having landed a world-record shirt sponsorship deal with General Motors in July, soccer team Manchester United is looking to cash in once more after buying out training kit partner DHL.
The English Premier League club signed a $559 million agreement with GM to have the Chevrolet logo on its shirts for seven years from 2014 onwards.
And, despite signing a $64 million training kit deal with logistics firm DHL in 2010, the Glazer family-owned team has already set its sights on securing a more lucrative endorsement.
"We have successfully negotiated an early buyout of our training kit agreement with DHL effective 30 June 2013," read a statement from one of the world's richest clubs, which has won the English league title a record 19 times and been crowned champion of Europe on three occasions.
Manchester United is the most valuable brand in football according to a report by independent consultancy Brand Finance. The global appeal and on-field success of the 19-time English champions has helped establish a brand worth an estimated $853 million.
Brand power: Football's most valuable clubs
France Football magazine has released a list of the highest-earning players in world soccer. Three-time World Player of the Year Lionel Messi of Barcelona tops the list, earning $52 million in wages and sponsorship deals.
World's richest footballers
Javier Pastore is the most expensive player in French football history after he cost Paris Saint-Germain a fee believed to be $56 million. But Pastore is not the first footballer to have swapped clubs for a hefty price tag.
Football's biggest transfers
"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 optimize the value of these rights."
Back to the future: Black pioneer's battle with racism
United has already announced two lucrative partnerships this month. First it entered into a three-year arrangement with Azerbaijani telecommunications company Bakcell, which became the club's first broadcast partner in the country.
Then food and beverage company Kagome became United's official soft drinks partner in Japan.
Despite incurring huge debts when the Glazers bought the club in 2005, United has remained one of the most profitable teams on the planet.
For the tax year ending June 30 2012, United's total income was £320.3 million ($516.3 million). Meanwhile, Forbes Magazine ranked Alex Ferguson's side as the most valuable in world sport, with a brand worth an estimated $2.23 billion.
On the pitch, Ferguson will be without Shinji Kagawa for one month after it was announced the Japanese playmaker aggravated a knee injury during Tuesday's European Champions League victory over Braga.
"Kagawa is out for three to four weeks with a knee injury," Ferguson told a press conference ahead of Sunday's match with EPL leaders Chelsea. "Playing on Tuesday didn't help. It is disappointing."
Kagawa joined United from German champions Borussia Dortmund in June and has so far scored two goals for the club.
Today's five most popular stories
Part of complete coverage on
October 21, 2014 -- Updated 1348 GMT (2148 HKT)
From the ancient ruins of Rome, a new empire rises. But the eyes of the city's newest gladiator light up at thoughts of the Colosseum.
October 21, 2014 -- Updated 1622 GMT (0022 HKT)
Once part of Germany's largest Jewish sports club, now he's the first ISIS suspect to stand trial in a country left shocked by his alleged radicalization.
October 17, 2014 -- Updated 1411 GMT (2211 HKT)
One goal in eight matches for new club Liverpool, and dumped by the Italian national team -- Mario Balotelli has yet to shine on his English return.
October 18, 2014 -- Updated 1819 GMT (0219 HKT)
Should a convicted rapist, who has served their time in prison, be allowed to resume their old job? What if that job was as a high-profile football player?
October 16, 2014 -- Updated 1247 GMT (2047 HKT)
After 10 years of golden glory, it's easy to see how Lionel Messi has taken his place among the football gods.
October 16, 2014 -- Updated 1034 GMT (1834 HKT)
When will the tears stop? A leading Italian football club is pursuing a new direction -- under the guidance of its new Indonesian owner.
October 13, 2014 -- Updated 2241 GMT (0641 HKT)
Norwegian 15-year-old Martin Odegaard is the youngest player ever to feature in a European Championships qualifying match.
October 10, 2014 -- Updated 1310 GMT (2110 HKT)
After revolutionizing cricket with its glitzy Twenty20 league, India has now thrown large sums of money at a new football venture.
October 2, 2014 -- Updated 1453 GMT (2253 HKT)
Get ruthless. That is Rio Ferdinand's message to soccer's authorities in the fight to tackle the scourge of racism.
September 10, 2014 -- Updated 1328 GMT (2128 HKT)
He's just 15 and the world is seemingly already at his feet. Norway's Martin Odegaard is being sought by Europe's top clubs.