New York CNN —Manchester United and Adidas are extending their apparel-sponsorship contract in a record-breaking £900 million ($1.2 billion) deal that lasts for another decade.
Manchester United said on its website that the Adidas partnership has “excited fans around the world with forward-thinking initiatives, iconic designs on the pitch and fan-favorite culturewear off of it” and that new deal “increases the focus” on its women’s team for new apparel.
“We are extremely proud to announce the extension of the contract with Manchester United,” Adidas CEO Bjorn Gulden said.
“Adidas and Manchester United are two of the most important brands in international football and it is very natural for us to continue our cooperation.”Monday’s deal is a marked increase from the previous deal, which was worth around £750 million.
Forbes ranks Manchester United as the world’s second most valuable team, assessing the 145-year-old team at to be worth $6 billion.
Persons:
Bjorn Gulden, “, ”, Glazer
Organizations:
New, New York CNN, Manchester United, Adidas, British football, League, Nike . Manchester United, “ Adidas, Forbes
Locations:
New York, German