Man United sign £900m, 10-year deal with kit supplier Adidas

Manchester United signed a £900 million ($1.1 billion) deal with Adidas on Monday to resume their partnership with the kit supplier for 10 extra years.

The German sportswear large turned the membership’s official kit sponsor within the 2015-16 season, reuniting after 23 years and taking on from Nike after sealing a £750m deal, which was a document on the time.

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“The new deal increases the focus on the Manchester United women’s team since their reintroduction in 2018,” United and Adidas mentioned in a press release.

United return to the profitable Champions League this season beneath supervisor Erik ten Hag, though their American homeowners, the Glazer household, proceed to contemplate promoting the membership.

The Glazers launched a proper sale course of late final yr, with Qatari Sheikh Jassim bin Hamad al-Thani and British billionaire Jim Ratcliffe among the many potential suitors.

The new deal with Adidas will proceed the partnership till June 2035.

The authentic settlement with Adidas hyperlinks part of the yearly funds to the membership’s participation within the Champions League, in line with the corporate’s newest annual report.

A failure by the membership to play within the Champions League for 2 or extra consecutive seasons reduces its annual funds by 30% of the relevant quantity, in line with the deal.

United didn’t instantly remark to Reuters on the phrases of the brand new deal. Adidas declined to remark.

“We will combine tradition and innovation to please both the players and the fans,” Adidas CEO Bjorn Gulden mentioned.