Sports

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 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.

Follow us on:

AriseNews

Recent Posts

New Zealand Rejects Cook Islands’ Bid For A Separate Passport

New Zealand has rejected the Cook Islands’ proposal for a separate passport, requiring full independence…

3 minutes ago

Honda, Nissan Eye Major Merger, Aim to Finalise Deal by 2025

Honda and Nissan plan a merger to create the world’s third-largest automaker, aiming to finalise…

4 minutes ago

Trump Chooses Ex-Bank President As Latin America Envoy Despite Alleged Affair Scandal

Trump has selected ex-bank president Mauricio Claver-Carone as Latin America envoy, despite past misconduct allegations…

6 minutes ago

Trump Threatens to Take Control of Panama Canal Over ‘Exorbitant’ Fees in Fiery Speech

Trump has demanded Panama reduce Canal fees or return it to US control, sparking backlash…

10 minutes ago

Ex-US Marine Pilot Daniel Duggan to Be Extradited to US Over Alleged Illegal Training of Chinese Pilots

Australia has approved the extradition of ex-marine Daniel Duggan, facing US charges for allegedly training…

12 minutes ago

Trump Nominates Billion Dollar Buyer Host Tilman Fertitta as US Ambassador to Italy

Donald Trump has selected businessman Tilman Fertitta, owner of the Houston Rockets, to serve as…

1 hour ago