United agree record £750m deal with adidas

Manchester United have agreed a record £750m (€940m) sponsorship deal with adidas.

The announcement comes six days after Nike pulled out of negotiations over a new deal because they 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.

It is the largest of its kind in world sport and dwarfs the likes of adidas’ deal with Real Madrid and Nike’s with Barcelona, as well as Arsenal’s agreement with Puma announced earlier this year.

The deal with Nike, United’s kit manufacturer since 2002, runs out at the end of the forthcoming season.

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 £750m, 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 deal is more than twice as big as the Nike agreement signed in 2002, worth £303m (€380m) with extra income from a profit share agreement from merchandise sold worldwide.

In a statement last week, the sportswear giant said: “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.”

This season also sees the beginning of US car giant Chevrolet’s kit sponsorship deal with United, which is worth a reported £53m (€ 66.5) per season.

Meanwhile, Louis van Gaal, after leading his native country to third at the World Cup, will have just two days off before beginning his job at United later this week. The 62-year-old will spend time with his new players at United’s Carrington training ground before flying to the USA for the club’s pre-season tour.

Van Gaal said on manutd.com: “That is no problem for me, I don’t need a holiday. It’s great to have such an exciting challenge. ”

Van Gaal will adopt the same approach at United, saying: “I hope the group in Manchester will become like this (Holland) one.

“We have to sing from the same hymn sheet. I hope at Manchester United I can do my best. I will do my best. Whether that’s enough for the fans I will wait and see.”