November 25, 2024
Manchester United agree 10-year extension with Adidas worth at least £900m
Manchester United have agreed a 10-year extension to their partnership with Adidas worth a minimum of £900m.
United’s new deal with the German kit manufacturer runs until June 2035, with their previous 10-year deal having been worth £750m.
American owners, the Glazer family, are still in talks over selling United.
“The relationship between Manchester United and Adidas is one of the most iconic in world sport,” said United’s chief executive Richard Arnold.
“With its roots in the 1980s, our partnership has been reinvented over the past decade with some of the most innovative designs and technology in sportswear.”
The two parties’ latest partnership began at the start of the 2015-16 season, with Adidas having previously supplied United’s kit from 1980-1992.
United said that the new deal has “a minimum cash guarantee of £900m, subject to certain adjustments”.
According to United’s latest annual report, the original agreement with Adidas links a part of the yearly payments to the club’s participation in the Champions League.
The three-time winners will return to Europe’s premier club competition this season having failed to qualify for 2022-23.
According to the new deal, failure to play in the Champions League for two consecutive seasons would reduce its annual payments by 30%.
The club said the new deal will increase the focus on the women’s team since its reintroduction in 2018.
Adidas chief executive Bjorn Gulden said: “Adidas and Manchester United are two of the most important brands in international football and it is very natural for us to continue our co-operation.” – bbc.com
