German sportswear firm adidas has confirmed a world record £750 million kit sponsorship deal with Manchester United, starting in 2015/16.
The new “global technical sponsorship and dual branded licensing deal” partnership, underlines United’s status as one the best performing-football business in commercial terms.
Herbert Hainer, adidas Group chief executive said: “We are excited to team up with Manchester United, one of the most successful and most loved football clubs globally. Our new partnership with Manchester United clearly underlines our leadership in football and will help us to further strengthen our position in key markets around the world.
“At the same time, this collaboration marks a milestone for us when it comes to merchandising potential. We expect total sales to reach £1.5billion during the duration of our partnership.”
adidas, which is celebrated a bumper World Cup 2014, will take over from arch rival Nike, which has worked with the Old Trafford club for 12 years. The US company confirmed last week it would not be renewing its deal on commercial grounds.
On the back of its partnerships with World Cup winners Germany and runners-up Argentina and from a club perspective with European Champions League winner Real Madrid, adidas said its football revenues will reach a record €2bn this year.