At yesterday's annual general meeting small shareholders told the board that the Vodafone brand risked becoming tainted by association with Glazer's business plan.
"It can only do Vodafone damage if it continues being associated with Malcolm Glazer," one shareholder stated, adding that the company had a fiduciary duty to review its sponsorship of the club.
Fans picketed the London meeting and handed out leaflets to shareholders, in which they warned that United fans unhappy with Glazer's hostile takeover could switch mobile phone operators if Vodafone failed to act.
However, Chief Marketing Officer Peter Bamford said the company had only seen a "very, very small" number of contract cancellations due to Vodafone's four-year, 36 million pound per year United sponsorship, which runs until 2008.
He said that Vodafone reviewed its sponsorships on a regular basis. But to a shout of "rubbish", he added: "We see no reason why Manchester United cannot continue to be of benefit to Vodafone."
