Manchester United has revealed that its General Motors Co. sponsorship agreement will generate $559 million through 2021. Under the sponsorship, the Chevrolet logo will be placed on the soccer team's jerseys beginning in 2014.

As part of a deal, GM will pay about $18.6 million in fees for each of the seasons this year and next. GM will pay $70 million in 2014, with the payments rising 2.1 percent each following season, the soccer club's filing said.

Nigel Currie, managing director of U.K.-based marketing adviser BrandRapport, said GM's deal with Manchester United is the richest in soccer. Currie negotiated one of Manchester United's previous shirt sponsorship contracts with Vodafone Group.

Manchester United's current shirt deal with Aon Corp. ends that year. That contract is worth about €80 million ($125 million) over four seasons.

Manchester United's deal comes as the club seeks to raise as much as $333 million in a U.S. initial public offering. The company and its selling shareholder, the Glazer family, are offering 16.7 million shares at $16 to $20 each.