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Manchester United Signs £750m Adidas Deal - Sports - Nairaland

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Manchester United Signs £750m Adidas Deal by JayKayMaybachz(m): 2:04pm On Jul 14, 2014
The biggest kit deal in UK football history is
confirmed as Adidas prepares to replace Nike at
Old Trafford.


Manchester United has agreed a record-breaking £750m kit
sponsorship deal wth Adidas after Nike walked away from
contract extension talks.
The 10-year agreement, starting at the beginning of the
2015/16 season, dwarfs the £150m deal over five years
recently reached between Arsenal and Puma, which
was in itself a UK record.
It was made as United prepare to begin the new Premier
League campaign without the prospect of lucrative Champions
League football following a disastrous 2013/14 season under
David Moyes - now replaced as manager by Louis van
Gaal .
The eagerness of Adidas to make the United kits was seen as
evidence of the durability of United's brand value despite its
worst-ever Premier League campaign which resulted in a
seventh-place finish.
The sums agreed by Adidas more than double the value of
Nike's current contract, which has one more season to run.
The deal, worth 75 million pounds a year from 2015, was
announced in a short statement after Nike ruled itself out on
cost grounds, saying that a trebling in the cost of its existing
13-year equipment supply contract was not good value.
Nike recently unveiled shirts for 2014/15 featuring a gold
Chevrolet logo, marking the start of the American car-
maker's £326m seven-year sponsorship deal with the team.
A Nike statement - issued 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".
Adidas last held the United contract between 1980 and
1992.

http://news.sky.com/story/1300690/manchester-united-signs-750m-adidas-deal

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