Manchester United have sealed a 10-year kit sponsorship deal with German firm Adidas worth £750m, which commences from the 2015/16 season.
The deal makes United the seventh Premier League club wearing Adidas kit alongside Chelsea, Sunderland, Swansea, West Bromwich Albions, West Ham United and Hull City.
“Manchester United plc has reached a 10-year agreement with adidas for a global technical sponsorship and dual branded licensing deal for a minimum guarantee of £750m, subject to certain adjustments, beginning with the 2015/2016 campaign,” club’s official statement on Monday read.
Many will wonder how a club that had a disappointing campaign last season under former manager David Moyes secured such a mega world record deal, but that further enunciates United’s global appeal.
The deal will be a massive boost for the Red Devils ahead of the 2014/15 season under new boss Louis van Gaal, who resumes officially on Wednesday after guiding the Netherlands to the 2014 World Cup third-place finish in Brazil.
Allsoccerplanet would remind our readers that on July 9, sportswear giants Nike announced they had parted company with United, after 12 years of commercial synergism, stating high financial demands from the Old Trafford club as their reason.
“Manchester United is a great club with passionate fans. We are proud to have partnered with them for the last 12 years and will continue to sponsor the club until the end of the 2014/15 season,” a statement from Nike last week read.
“Any partnership with a club or federation has to be mutually beneficial and the terms that were on offer for a renewed contract did not represent good value for Nike’s shareholders. We look forward to a successful final season with the club.”
Nike’s original deal was worth £303m, with extra income from a profit share agreement from merchandise sold worldwide.
On July 7, United unveiled their new home kit for the 2014/15 season which will be the last designed by Nike and the first to bear the logo of new sponsor Chevrolet.
United announced they would be entering a seven-year agreement worth £53m per season with the US car giant from this summer back in 2012.