Manchester United and Adidas have extended their partnership.
The new contract is worth a minimum of £900 million.
United is on track to set new income records this year.
Adidas and Manchester United have extended their collaboration for another 10 years at a minimum cost of £900 million.
With the German apparel maker, United has a new contract that lasts through June 2035. Their last 10-year deal was for £750 million.
The Glazer family, United’s American owners, is currently negotiating to sell the company.
“The relationship between Manchester United and Adidas is one of the most iconic in world sport,” said United’s chief executive Richard Arnold.
“With its roots in the 1980s, our partnership has been reinvented over the past decade with some of the most innovative designs and technology in sportswear.”
The most recent cooperation between the two parties began at the start of the 2015–16 campaign. From 1980–1992, Adidas provided United’s uniforms.
According to United, there is “a minimum cash guarantee of £900m, subject to certain adjustments” under the new agreement.
The first contract with Adidas ties a portion of the yearly earnings to the club’s participation in the Champions League, according to United’s most recent annual report.
Payments would be 30% less each year if a player missed out on the Champions League for two straight years.
The three-time champions, who didn’t make the cut for 2022–23, will compete in Europe’s top club championship this year.
Despite not participating in the Champions League the previous year, United said last month that the team is on track to set new income records.
United increased their yearly prediction from between £590 and 610 million to between 630 and 640 million due to higher matchday and commercial revenue, which would surpass their previous high of £627.1 million in 2019.
The Glazer family said they were prepared to sell the club in November, but a takeover hasn’t happened despite rumors that some members are eager to keep a stake in the organization.
United still owes a lot of money, totaling more than £950 million, including more than £160 million in unpaid transfer fees.
The organization claimed that since United’s women’s squad was reinstated in 2018, the new shirt contract will draw more attention to it.
Adidas chief executive Bjorn Gulden said: “Adidas and Manchester United are two of the most important brands in international football and it is very natural for us to continue our cooperation.”