Manchester United renew £900m Adidas deal, women’s team will also be a focus
Reuters API
Manchester United signed a £900 million ($1.1 billion) deal with Adidas
Manchester United, whose U.S. owners have been considering selling the Premier League club, will return to the lucrative UEFA Champions League this year after securing a top-four finish in the domestic league last season under manager Erik ten Hag.
German sportswear giant Adidas became the club’s official kit sponsor in the 2015/16 season, reuniting after 23 years and taking over from Nike after sealing a £750 million 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 said in a joint press release with Adidas.
United is still in talks to sell itself after American owners, the Glazer family, launched a formal sale process late last year.
Qatar’s Sheikh Jassim bin Hamad al-Thani and British billionaire Jim Ratcliffe are among the potential suitors for the club.
The new deal with Adidas, ahead of the 2023/24 Premier League season starting next month, will continue the partnership until June 2035, the club said.
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.
United did not immediately comment on the terms of the new deal. Adidas declined to comment.
“We will combine tradition and innovation to please both the players and the fans,” Adidas CEO Bjorn Gulden said.
