Manchester United Plc (NYSE:MANU) has signed a new 10-year extension to its kit and apparel deal with Adidas on improved terms.
The football club, in a brief statement, told investors that the new deal would run until June 2035 and has a minimum cash guarantee of £900 million (£90 million per year).
It was described in the sports press as a “new world record” deal, which effectively sees the club paid upfront for the forward sale of Adidas shirts and certain other clothing and product lines, and it represents an upgrade to the prior deal which began in 2015.
Details of the new deal were sparse. Under prior terms the amount paid to United by the sportwear brand depended upon the teams’ achievements and participation in the UEFA Champions League.
In New York, Manchester United shares are set to start trading on Monday close to 1% lower, changing hands at US$22.32 in pre-market deals.