Premier League giants and global footballing juggernaut Manchester United have been financially rewarded for their worldly appeal after reportedly agreeing to a massive extension with kit supplier Adidas worth nearly £1bn.
Per reports from Sky Sports, United is set to receive at least £900m from Adidas, banking the club £90m per annum over the course of the fresh ten-year extension.
At current, it is thought to become the biggest kit deal in Premier League history in terms of revenue per season and is comfortably ahead of the previous £750m deal the club had signed with the German corporation ten years ago.
United chief executive Richard Arnold today stated “The relationship between Manchester United and Adidas is one of the most iconic in world sport. With its roots in the 1980s, our partnership has been reinvented over the past decade with some of the most innovative designs and technology in sportswear. We are now looking forward to refreshing this powerful partnership again through the remainder of this decade and into the 2030s.”
Despite the value of the new deal, the reported annual income from Real Madrid’s deal with Adidas still dwarves United according to AS;
“That distinction [biggest kit deal] goes to Real Madrid, who signed a deal worth at least €1.1 billion ($1.21bn) with the German kit manufacturer back in 2019. Reports suggest that the true value of that contract could be far higher.
At the time, Goal reported that Madrid could receive as much as €152 million ($170m) per year once merchandising rights and additional payments are factored in. The true value of that ten-year deal could be close to €1.8 billion ($1.98bn).”