July 31, (THEWILL) – Manchester United announced on Monday, the extension of their longstanding partnership with official kit supplier, Adidas, ensuring a continuation of the collaboration for an additional decade until June 2035.
The new deal, valued at a minimum of £900 million in cash guarantees, marks a significant move ahead of the upcoming 2023/2024 English Premier League season, set to kick off next month. The 20-time English champions are poised to return to the prestigious UEFA Champions League this year, and with their heightened annual forecast, the renewed agreement with Adidas will link a portion of the annual payments to the club’s participation in the esteemed European tournament.
The original partnership between United and Adidas, as outlined in the company’s latest annual report, incorporates an innovative approach, linking a section of the yearly payments to the club’s UCL involvement. However, in the event of the club failing to qualify for the UCL for two consecutive seasons, the annual payments could be subject to a reduction of 30% of the applicable amount, as stipulated in the agreement.
Despite these potential contingencies, the club’s confidence in the partnership remains steadfast, especially with their recent surge in performance and determination to reclaim their spot in the coveted UCL.
Amidst these developments, Man Utd continue to navigate negotiations for a possible sale. In the wake of the Glazer family initiating a formal sale process in the previous year, the club is actively exploring options to secure a prosperous future while leveraging the renewed partnership with Adidas as a testament to their continued significance and value in the global football arena.
Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
