Red Devils end long partnership with Nike to team up with rivals.
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Manchester United have confirmed a massive kit sponsorship deal worth over £750m with sportswear giants Adidas that will see their 13-year association with arch rivals Nike come to an end.
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The whopping number is over double what they earn from current partners Nike and the news comes soon after it was announced that Nike would be ending their arrangement as they didn’t believe the partnership made commercial sense anymore.
It is believed that Adidas have beaten off the likes of Warrior, who make Liverpool’s kits, and Under Armour, who are partnered with Spurs, to grab the contract.
The United deal will kick off for the 2015-16 season, with Nike to continue for one more campaign, though it is still unclear as to how long the deal will be for.
However, the contract will be a huge boost for United as they look to restore themselves as Champions League regulars.
United first partnered up with Nike back in 2002, but reports suggest that the American brand have decided to part ways as the deal is costing them more than they are making.
The Nike statement 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 are proud to have partnered with them for the last 12 years and will continue to sponsor the club until the end of the season.
“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.
“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.”
A statement on the official Manchester United website about the Adidas deal read:
“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.”
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