Manchester United renews Adidas partnership in 10-year deal
The new deal, ahead of the 2023/24 Premier League season starting next month, will continue the partnership until June 2035, the club said.
Published : Jul 31, 2023 16:12 IST , BENGALURU - 1 MIN READ
The 20-time English champion’s new deal with Adidas is worth over $1 billion. | Photo Credit: Getty Images
Manchester United on Monday renewed its partnership with official kit supplier Adidas for 10 years and a minimum cash guarantee of £900 million ($1.16 billion).
The new deal, ahead of the 2023/24 Premier League season starting next month, will continue the partnership until June 2035, the club said.
Manchester United will return to the lucrative Champions League this year. Last month the 20-time English champion raised its annual forecast.
According to the company’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.
A failure by the club to play in the Champions league for two more consecutive seasons reduces its annual payments by 30% of the applicable amount, according to the deal.
United is still in talks to sell itself after American owners, the Glazer family, launched a formal sale process late last year.