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CONFIRMED: Man Utd announce RECORD £750m 10-year Adidas kit deal
MANCHESTER UNITED have today confirmed a record-breaking kit sponsorship deal with Adidas worth £750m over the next decade.
The £75m-a-season contract will start in the 2015-16 campaign and is worth more than double what United's current deal with Nike.
American giant Nike, who had first option on an extension, pulled out of negotiations last month saying United's demands were too high.
Manchester United plc has reached a 10-year agreement with adidas, beginning 2015/16. More: http://t.co/VAP8iwzCAD pic.twitter.com/oowQbf6NJi
— Manchester United (@ManUtd) July 14, 2014
A statement from United to the New York Stock Exchange said: "Manchester United has reached a 10-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."
The eye-watering deal with Adidas follows the start of United's £350m shirt sponsorship deal with Chevrolet and underlines the clubs absence from the Champions League next season has not undermined its commercial activity.