Qualcomm Inc (NASDAQ:QCOM) has signed a new sponsorship deal to become the front-of-shirt sponsor for Manchester United Ltd (NYSE:MANU) Football Club.
The company aims to increase awareness of its Snapdragon brand as it expands into personal computing.
The California-based chipmaker is leveraging its new partnership with one of the most recognized clubs in the world's most popular sport.
One home game for the U.K. Premier League team provides Snapdragon with exposure comparable to a Super Bowl ad, Bloomberg reports.
Snapdragon, known for its association with smartphone processors, is now poised to play a more prominent role as Qualcomm intensifies efforts to penetrate the PC industry.
This endeavor positions Qualcomm against Intel Corp's (NASDAQ:INTC) long-standing 'Intel Inside' marketing campaign.
While neither Qualcomm nor Manchester United disclosed the sponsorship deal's value, Bloomberg reported last year that it is worth over $76 million (60 million Pounds) annually.
This figure surpasses the roughly 47 million Pounds paid by the previous sponsor, German software company TeamViewer SE.
The three-year agreement, with an option for two additional years, allows the football club to utilize Qualcomm's technology to enhance fan experiences. The club boasts over 1 billion followers worldwide.
Price Actions: QCOM shares are down 0.47% at $198.25 at the last check Monday. MANU shares are up 0.53% at $16.23.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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