Premier league giants, Manchester United have signed a new deal worth £900 million with popular designer brand, Adidas to renew their partnership for another ten 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.
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.
As revealed in a statement, the new deal long-term deal will continue the partnership between United and the brand 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.
Manchester United did not immediately reveal the details of the new deal to Reuters and Adidas also declined to comment.
“We will combine tradition and innovation to please both the players and the fans,” Adidas CEO Bjorn Gulden said.