Manchester United Renews £900 Million Deal with Adidas
Manchester United has signed a lucrative £900 million ($1.1 billion) deal with Adidas on Monday to extend their partnership with the renowned sportswear brand for an additional 10 years. The renewal marks a continuation of their successful collaboration that began in the 2015-16 season, after a 23-year hiatus, and replaced Nike as the official kit sponsor with a groundbreaking £750 million deal.
Focus on Manchester United Women’s Team
In a joint statement, both Manchester United and Adidas highlighted that the new deal places increased emphasis on the Manchester United women’s team, which was reintroduced in 2018. This move signifies a commitment to promoting and supporting women’s football within the club.
Club Sale Considerations Amidst Champions League Return
Despite Manchester United’s return to the prestigious Champions League under manager Erik ten Hag, their American owners, the Glazer family, continue to contemplate selling the club. Late last year, the Glazers initiated a formal sale process, attracting potential suitors such as Qatari Sheikh Jassim bin Hamad al-Thani and British billionaire Jim Ratcliffe. The extended partnership with Adidas until June 2035 adds an intriguing element to the club’s financial outlook, as a portion of the yearly payments from Adidas remains linked to Manchester United’s participation in the Champions League. Failure to qualify for the Champions League for two or more consecutive seasons would result in a 30% reduction in annual payments as per the original agreement. However, the club has not yet provided a comment on the specific terms of the new deal, and Adidas declined to comment as well. The CEO of Adidas, Bjorn Gulden, expressed his commitment to combining tradition and innovation to cater to both players and fans.