Adidas signs Record Breaking Deal with Manchester United
By Opeyemi Oladunjoye
Sportswear maker, Adidas have agreed to become Manchester United’s new kit supplier worth a record £70m-a-year, more than double what they currently receive from Nike.
Nike had confirmed last week that they will not extend their contract which is set to expire at the end of this season. The club’s new record breaks the previous record set by Arsenal’s new kit deal with Puma which is believed to generate £150m over the five-year contract.
United have ignored interest from two American sportswear brands, Warrior and Under Armour, to favour Adidas. Warrior already supply Liverpool’s kits.
With Nike set to end their 13-year partnership with the club at the end of the season, Adidas will unveil their first kit next summer though Nike recently unveiled a Chevrolet-sponsored kit for United.
A Nike statement reads: “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.”
The club is expecting a £50m loss due to the failure to qualify for the Champions League under sacked-manager David Moyes. The new deal will now come as a boost to ensure the financial stability of the club remains intact.
New manager, Louis van Gaal is set to arrive at the club on Wednesday to begin his tenure at Old Trafford. He just concluded a successful World Cup campaign with the Netherlands, leading them to a third place finsh and a deserving victory over hosts Brazil.
