One of the Premier League’s most iconic franchises, Manchester United, has signed a record-breaking $1.1 billion deal with Adidas to extend their apparel sponsorship for the next 10 years.
Adidas will continue to make the famed soccer club’s uniforms through 2035 and a release about the agreement said there will be a greater focus on Manchester United’s women’s team, “continuing Manchester United and Adidas’s commitment to drive the women’s game forward.”
The German sportswear company had taken over as the Premier League club’s apparel partner in 2015 after Man U ended its partnership with Nike.
“The relationship between Manchester United and Adidas is one of the most iconic in world sport, forged through a shared commitment to style, flair and, most importantly, high performance,” Manchester United CEO Richard Arnold said in a statement.
“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. We are now looking forward to refreshing this powerful partnership again through the remainder of this decade and into the 2030s.”
Members of Manchester United during a pre-season friendly match between Manchester United and Borussia Dortmund.Getty Images
The new deal is an increase from the previous one Man U had with Adidas, though specific details about the agreement were not released.
According to Reuters, the previous deal between Adidas and Manchester United linked some of the payments to the club qualifying to participate in the Champions League.
The announcement comes a little more than a week ahead of the start of the 2023-24 Premier League season and as the iconic club is possibly up for sale.
Manchester United’s English midfielder Omari Forson (R) vies for the ball with Dortmund’s German forward Karim Adeyemi.AFP via Getty Images
The Glazer family, the Americans that own Manchester United, began a formal sale process last year for the club. Qatar’s Sheikh Jassim bin Hamad al-Thani and British billionaire Jim Ratcliffe are among the names potentially interested in the team.
Forbes valued Manchester United at $6 billion in its annual valuation of professional sports franchises
Source link: https://nypost.com/2023/07/31/manchester-uniteds-adidas-deal-a-record-1-1-billion/