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Manchester United announce 750-million pound Adidas deal

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(Globalpost/GlobalPost)

LONDON, July 14 (Xinhua) -- Manchester United on Monday announced a ten-year kit deal with German sportswear giant Adidas worth 750 million pounds (about 1.28 billion US dollars).

"Manchester United plc... has reached a ten year agreement with Adidas for a global technical sponsorship and dual branded licensing deal for a minimum guarantee of #750 million... beginning with the 2015/2016 campaign," the English Premier League club said in a statement.

Manchester United's current 13-year deal with Nike, worth 303 million pound (about 502 million), is due to end in 2015 and an exclusivity period enabling the US sportswear manufacturer to negotiate a new deal recently expired.

Manchester United finished a disappointing seventh place finish last season which saw manager David Moyes being sacked. Netherlands World Cup manager Louis van Gaal will take over the team.

http://www.globalpost.com/dispatch/news/xinhua-news-agency/140714/manchester-united-announce-750-million-pound-adidas-deal