Manchester United sign $1.1 billion Adidas kit deal for 10 years

Manchester United sign $1.1 billion Adidas kit deal for 10 years post thumbnail image

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

The German sportswear giant became the club’s official kit sponsor in the 2015-16 season, reuniting after 23 years and taking over from Nike after sealing a £750m deal, which was a record at the time.

“The new deal increases the focus on the Manchester United women’s team since their reintroduction in 2018,”

United and Adidas said in a statement.

United return to the lucrative Champions League this season under manager Erik ten Hag, although their American owners, the Glazer family, continue to consider selling the club.

The Glazers launched a formal sale process late last year, with Qatari Sheikh Jassim bin Hamad al-Thani and British billionaire Jim Ratcliffe among the potential suitors.

The new deal with Adidas will continue the partnership until June 2035.

The original agreement with Adidas links a part of the yearly payments to the club’s participation in the Champions League, according to the company’s latest annual report.

A failure by the club to play in the Champions League for two or more consecutive seasons reduces its annual payments by 30% of the applicable amount, according to the deal.

United did not immediately comment to Reuters on the terms of the new deal. Adidas declined to comment.

“We will combine tradition and innovation to please both the players and the fans,”

Adidas CEO Bjorn Gulden said.

Source: Reuters

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