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Nairaland Forum / Entertainment / Sports / Manchester United Signs £750m Adidas Deal (468 Views)
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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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