2023-07-31 20:18:33
MANCHESTER, England (AP) — Manchester United extended its contract with Adidas by 10 years and the English Premier League club said Monday that it will be worth more than $1 billion.
The contract extension with Adidas ensures that the German brand will continue to design the team’s sportswear until 2035 and “guarantees a minimum amount of 900 million pounds (1,150 million dollars), subject to certain variables,” the club reported.
It is the most lucrative contract in the history of the Premier League.
This club is one of the biggest brands in international football, and it was only natural that we wanted to continue this relationship,” said Adidas CEO Bjorn Gulden. “We will continue to blend tradition and innovation to please players and fans alike. We are looking forward to continuing our collaboration with one of the most emblematic clubs in this sport”.
The agreement for the club’s most important source of income provides stability at a time when it is for sale. The American owners are considering offers from Jassim bin Hamad Al Thani, a Qatari sheikh and banker, and English businessman Jim Ratcliffe.
Adidas was United’s clothing supplier between 1980 and 1992. The relationship was resumed from the 2015-16 season.
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