Jul 14, 2014, 8:42 AM EDT
Manchester United have agreed the most lucrative kit deal in soccer, as they’ve partnered with German manufacturers adidas. It is an absolute monster.
The Red Devils have signed a 10-year deal, which will start from the 2015-16 season, for a minimum of around $1.3 billion.
Just last week long-term kit suppliers Nike cut their ties with United as they claimed a new deal was too expensive for them. Adidas have now swooped in with this monster deal that will bolster the coffers at Old Trafford.
With Louis van Gaal coming on board as manager this summer, cash being splashed on all kinds of new players and the club trying to regain its place among Europe’s elite from next season, United’s fans will hope this latest piece of news means the club is heading in the right direction.
On their club website the Red Devils released the following statement as they informed the New York stock exchange of the monster deal.
Manchester United plc (NYSE:MANU) has reached a ten-year agreement with adidas for a global technical sponsorship and dual branded licensing deal for a minimum guarantee of GBP 750 million, subject to certain adjustments, beginning with the 2015/2016 campaign.
For the 2014/2015 season, Nike will continue in its role of technical sponsor and trademark licensee.
Where does this kit deal rank in terms of the Premier League?
Adidas recently signed a long-term deal with Chelsea and they will be paid $515 million over 10 years. United will get double that.
It seems as though the power of United is still strong, even if they failed to qualify for the UEFA Champions League and finished in seventh last season in the PL.
This news comes just after Nike revealed United’s new jersey for the season, complete with Chevrolet’s logo as the American automaker’s $559 million, seven-year jersey sponsorship deal with the team has just begun.
Even as success dries up at Old Trafford, some of the most lucrative sponsorship deals sport has ever seen continues to flood in.
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