Under the seven-year jersey sponsorship deal starting in 2014-2015 for the Chevrolet brand, GM will pay $60 million to $70 million a year, said a person with knowledge of the contract who asked not to be identified. GM also will pay the club a $100 million activation fee, making the deal's total value worth as much as $600 million, the person said.
On Sunday, GM ousted its global marketing chief, Joel Ewanick, without giving specifics. Sources told Reuters that Ewanick failed to properly report financial details about a recent sponsorship deal with the soccer club. That resulted in a rewording of the deal before it was announced on Monday, the sources said. The persons requested anonymity because they are not authorized to discuss contract details.
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