3.5 C
Tuesday, November 28, 2023
HomeSportMan Utd agree 10-year Adidas extension worth £900m

Man Utd agree 10-year Adidas extension worth £900m


Related stories

Israel Gaza: 33 Palestinians released on fourth day of truce

It brings the total number of Palestinians released since...

After visa-free entry, surge likely towards south & southeast Asia

Boosted by visa-free entry into some of the top...

Greeks broke promise not to raise Elgin Marbles, says No 10

Downing Street cancels Rishi Sunak's meeting with the Greek...

Rashmika Mandanna: India actress urges women to speak up on deepfake videos

Rashmika Mandanna made the remark weeks after her deepfake...

Air France-KLM, Etihad announce frequent flyer partnership

With this collaboration, customers of Air France-KLM and Etihad...

Manchester United wore their new home kit for their latest pre-season friendly against Borussia DortmundManchester 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.Failure to play in the Champions League for two consecutive seasons would reduce annual payments by 30%.The three-time winners will return to Europe’s premier club competition this season having failed to qualify for 2022-23.Despite not playing in the Champions League last season, United said last month that the club is heading for record revenues.Stronger matchday and commercial revenue saw United revise their annual forecast from between £590m and £610m to between £630m and £640m, which would eclipse their previous best of £627.1m in 2019.The Glazer family indicated they were ready to sell the club last November but a takeover has yet to be completed, amid rumours some of the family are keen to retain an interest.United still have large debts – in excess of £950m in total – including outstanding transfer fee payments of more than £160m.The club added that the new kit deal will increase the focus on United’s 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.”

Source link


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories



Please enter your comment!
Please enter your name here