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.
Manchester United have agreed a mammoth 750 million GBP sponsorship deal with adidas.
The German sportswear giant has stepped in after Nike pulled out of negotiations over a new deal last week because it felt United were demanding too much money.
The adidas agreement, described in a statement as "a global technical sponsorship and dual branded licensing deal", will run for 10 years from the 2015-16 season.
The deal with Nike, United's kit manufacturer since 2002, runs out at the end of the forthcoming season.
United believe it is the biggest kit deal in sport, surpassing the likes of Barcelona and Real Madrid as well as major American sports, which tend to sign league-wide deals covering all teams.
A United statement read: "Manchester United plc has reached a 10-year agreement with adidas for a global technical sponsorship and dual branded licensing deal for a minimum guarantee of £750million, subject to certain adjustments, beginning with the 2015/2016 campaign.
This season also sees the beginning of US car giant Chevrolet's kit sponsorship deal with United, which is worth a reported £53million per season.
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