Story highlights 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

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.

"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."

Photos: Brand power: Football's most valuable clubs Photos: Brand power: Football's most valuable clubs Manchester's money machine – 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. Hide Caption 1 of 6 Photos: Brand power: Football's most valuable clubs Silver lining – Bayern Munich's players and fans were distraught after losing Saturday's European Champions League to Chelsea, but the German team's brand was second on the list, valued at $786 million. Hide Caption 2 of 6 Photos: Brand power: Football's most valuable clubs Cuts for 'El Clasico' – Real Madrid recently pipped Barcelona to the Spanish title, but both clubs have suffered setbacks financially. Both brands decreased, by 7% and 8% respectively, as a result of the eurozone crisis and its impact on the Spanish economy. Hide Caption 3 of 6 Photos: Brand power: Football's most valuable clubs Champions cash in – Chelsea's brand value was significantly boosted by the European triumph. The west London club, backed by Russian billionaire Roman Abramovich, is ranked fifth on the list valued at $398 million. Hide Caption 4 of 6 Photos: Brand power: Football's most valuable clubs City slickers – Manchester City's dramatic Premier League title win has increased the value of the Abu Dhabi-owned English club's brand, putting it eighth on the list, worth an estimated $302 million. Hide Caption 5 of 6 Photos: Brand power: Football's most valuable clubs A major league? – The 2011 Major League Soccer champions Los Angeles Galaxy had the honor of meeting President Barack Obama earlier this month. Galaxy, 50th on the list, still struggle to attract commercial rights deals which compare to the club's European counterparts. Hide Caption 6 of 6

Photos: World's richest footballers Photos: World's richest footballers Lionel Messi $52M – 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. Hide Caption 1 of 10 Photos: World's richest footballers David Beckham $50M – Former England captain David Beckham is second on the list. The 36-year-old recently signed a new contract with Major League Soccer franchise Los Angeles, which he joined in 2007, and he unveiled a clothing line with Swedish store H & M in February. Hide Caption 2 of 10 Photos: World's richest footballers Cristiano Ronaldo $46M – Real Madrid's Cristiano Ronaldo became the world's most expensive player when he joined the Spanish giants from Manchester United in 2009 for a reported $130 million.The Portugal forward's silky skills and prolific goalscoring also help him to attract sponsorship deals, such as the one he has with his boot manufacturer Nike. Hide Caption 3 of 10 Photos: World's richest footballers Samuel Eto'o $37M – Cameroon's Samuel Eto'o profited from joining big-spending Russian outfit Anzhi Machachkala from Inter Milan in August 2011. Hide Caption 4 of 10 Photos: World's richest footballers Wayne Rooney $32.6M – England star Wayne Rooney penned a lucrative five-year contract with Manchester United in October 2010, after initially declaring that he wanted to leave the Old Trafford club. Hide Caption 5 of 10 Photos: World's richest footballers Sergio Aguero $29.7M – Argentina striker Serguio Aguero is one of two Manchester City players in the top 10 after joining the Abu Dhabi-owned English Premier League club from Atletico Madrid for a reported $62 million in July 2011. Hide Caption 6 of 10 Photos: World's richest footballers Yaya Toure $27.8M – Aguero is joined on the list by City teammate Yaya Toure, the Ivory Coast midfielder who signed for the club from Barcelona in 2010. Toure signed a sponsorship deal with German brand Puma in October 2011. Hide Caption 7 of 10 Photos: World's richest footballers Fernando Torres $26.4M – Spain striker Fernando Torres joined Chelsea from EPL rivals Liverpool in a British-record transfer reported to be worth $80 million in January 2011. Despite his lucrative move, Torres has struggled to find the net during his spell in west London. Hide Caption 8 of 10 Photos: World's richest footballers Kaka $24.5M – Brazil playmaker Kaka was briefly the world's most expensive player when he signed for Real Madrid from AC Milan in 2009. The reported$100 million fee Real paid for his services was beaten later in the same transfer window, when the Spanish club signed Ronaldo. Hide Caption 9 of 10 Photos: World's richest footballers Philipp Lahm $22.6M – Bayern Munich captain Philipp Lahm completes the top 10. The Germany skipper attracted controversy last year for releasing a book in which he criticized the training techniques of former Bayern coaches Jurgen Klinsmann and Felix Magath. Hide Caption 10 of 10

Photos: Football's biggest transfers Photos: Football's biggest transfers Football's most expensive players – 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. Hide Caption 1 of 6 Photos: Football's biggest transfers Fernando Torres: Liverpool to Chelsea – Fernando Torres swapped Chelsea for Liverpool on the final day of the January 2011 transfer window. After moving for a British-record transfer fee, believed to be in the region of $80 million, Torres has scored just five goals in a little over 12 months with the club. Hide Caption 2 of 6 Photos: Football's biggest transfers Zinedine Zidane: Juventus to Real Madrid – In 2001, Real Madrid broke the world transfer record to bring FIFA World Player of the Year Zinedine Zidane to Spain from Italian club Juventus. The fee for the French World Cup winner was reported to be €86.5 million ($115 million). Hide Caption 3 of 6 Photos: Football's biggest transfers Kaka: AC Milan to Real Madrid – Real broke world transfer record again in June 2009, paying a reported $100 million to lure Brazil's Kaka away from Italian club AC Milan. Hide Caption 4 of 6 Photos: Football's biggest transfers Zlatan Ibrahimovic: Inter Milan to Barcelona – Zlatan Ibrahimovic moved to Real's archrivals Barcelona during the same transfer window. Barca paid Inter Milan a reported $65 million for the Sweden striker, but he lasted only one season before returning to Italy with AC Milan. Hide Caption 5 of 6 Photos: Football's biggest transfers Cristiano Ronaldo: Manchester United to Real Madrid – Kaka's time as the world's most expensive player was short, with Real smashing the transfer record once again to sign Cristiano Ronaldo from Manchester United for a reported $130 million. Hide Caption 6 of 6

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.