United have been partnered with Aeroflot since 2013
Manchester United are set to drop Russian airline sponsors Aeroflot after Prime Minister Boris Johnson announced they were banned from the UK as part of fresh sanctions on Russia.
Boris Johnson confirms Aeroflot (sponsor Man Utd) banned from UK.
— Simon Stone (@sistoney67) February 24, 2022
Russian president Vladimir Putin announced on Thursday morning a full-scale invasion of Ukraine which has so far seen attacks from the land, air and sea.
United have been partnered with Aeroflot since 2013, but have now confirmed they are reviewing their agreement following the escalations of the conflict in Ukraine.
The club normally use the flight company to travel to away games, however, they changed their plans for their away game against Atletico Madrid on Wednesday as a result of the economic sanctions imposed on Russia by the UK government.
Aeroflot’s current deal with United is set to expire in the summer of 2023 – with the club’s new CEO Richard Arnold signalling his intention not to renew the deal and instead, end it 18 months earlier than scheduled.
United’s decision to terminate their deal is largely down to the risk that they could damage their reputation given the recent escalation of events in Ukraine.
However, as per Sky Sports, United have said that they will make no further comment for the time being.
As shown by football financial expert Kieran Maguire, shares in United were down by over eight per cent on the New York Stock Exchange and their market value down by 38 per cent as of October.
Manchester United set to terminate sponsor deal with Russian airline Aeroflot. Shares down over 8% today and below price at which originally listed in NYC in 2012. Market value down $1.35bn (38%) since October #MUFC pic.twitter.com/GU11Uoxp0s
— Kieran Maguire (@KieranMaguire) February 24, 2022
The club’s American owners could also face serious consequences if the US government impose sanctions on Russian companies, which could include banning the airline from the country, unless their deal is terminated.
Related links:
- Brazilian footballers stranded in Ukraine beg government to evacuate them
- Schalke to remove Gazprom sponsorship from club shirts
- Chelsea owner Roman Abramovich ‘barred from living in the UK’
