Man United's half a billion dollar deal

Chevrolet takes over from the insurer Aon starting with the 2014-2015 season. Manchester United said it will receive $66.3 million during the first season of the new deal.

The agreement was signed 26 July and announced earlier this week, but the financial details were disclosed by the club in a filing with the US Securities and Exchange Commission as part of Manchester United's planned initial public offering of stock.

United said the payment will increase 2.1 per cent annually during the deal, which runs through the 2020-2021 season. In addition, the club said the agreement calls for them to receive about $17.6 million in fees in each of the 2012-2013 and 2013-2014 seasons.

General Motors announced the resignation of its chief marketing officer, Joel Ewanick, on last weekend. Ewanick had been involved in negotiating the deal.

"Mr Ewanick failed to meet the expectations the company set for its employees," spokesman Greg Martin said on Friday, declining additional comment.