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

manchester-united-sign-$1.1-bln-adidas-kit-deal-for-10-years
Manchester United sign $1.1 bln Adidas kit deal for 10 years

Manchester United has signed a 10-year deal with Adidas worth £900 million ($1.1 billion), renewing their partnership with the official kit supplier. The English soccer club, which has been considering selling the team, secured a top-four finish in the domestic league last season under manager Erik ten Hag, allowing them to return to the UEFA Champions League. Adidas became the club’s official kit sponsor in the 2015/16 season, taking over from Nike in a record-breaking £750 million deal. The new agreement with Adidas will continue until June 2035 and includes a focus on the Manchester United women’s team. The club is still in talks to sell itself, with potential suitors including Qatar’s Sheikh Jassim bin Hamad al-Thani and British billionaire Jim Ratcliffe. The original deal with Adidas ties a portion of the yearly payments to the club’s participation in the Champions League. Failure to play in the Champions League for two or more consecutive seasons will result in a 30% reduction in annual payments. The terms of the new deal were not immediately disclosed. Adidas CEO Bjorn Gulden stated that the company will combine tradition and innovation to please both the players and the fans. Manchester United recently raised their annual profit and revenue forecasts.

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Hi, I'm Alex Perez, an experienced writer with a focus on lifestyle and culture news. From food and fashion to travel and entertainment, I love exploring the latest trends and sharing my insights with readers. I also have a strong interest in world news and business, and enjoy covering breaking stories and events.

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