Manchester United have announced a world record £70million-a-year kit deal with Adidas.
The staggering figure is more than double the amount United’s current partner Nike pays, who have supplied the club’s kits since 2012.
Earlier this month, Nike announced they would be ending their relationship from the 2014/15 season after a 13-year association.
Manchester United said it has reached a ten-year agreement with Adidas for a ‘global technical sponsorship and dual branded licensing deal for a minimum guarantee of GBP 750million’.
Adidas will supply United’s kits from the 2015/16 season.
United’s Nike strip for the new season, which is sponsored by Chevrolet, was officially released last week.
It is believed Nike’s surprise announcement had caused a scramble between Adidas and the US brand Warrior, though it appears the former has won emerged victorious.
— Barclays League (@BarclaysLeague) July 7, 2014
Last week, Nike released a statement revealing they had pulled out of negotiations because of the huge fee being sought.
The figure dwarfs those paid to some of the worlds leading football clubs.
Adidas currently pay Real Madrid £31million-a-year to supply their kits, Nike pay Barcelona £27million-a-year and also supply United’s city rivals £12million-a-year to supply their kits.
The Nike statement read: “Any partnership with a club or federation has to be mutually beneficial and the terms that were on offer for a renewed contract did not represent good value for Nike’s shareholders.
“We are proud to have partnered them for the last 12 years and will continue to sponsor the club until the end of the season.
“Manchester United is a great club with passionate fans. We are proud to have partnered with them for the last 12 years and will continue to sponsor the club until the end of the 2014-15 season.
— pixr8 (@pixr8) July 12, 2014
“Any partnership with a club or federation has to be mutually beneficial and the terms that were on offer for a renewed contract did not represent good value for Nike’s shareholders. We look forward to a successful final season with the club.”
The new bumper deal will come as a huge boost to the club after a disastrous campaign that saw them finish the season in seventh place, and subsequently failed to qualify for the Champions League.
United are expected to lose around £50million from not playing in Europe’s elite competition, so the deal should go some way to easing the sting.
New manager Louis van Gaal is set to arrive at the club on Wednesday tasked with rebuilding the club and sending them back to the pinnacle of world football.
United have already invested heavily this summer, with the £29million deal for Ander Herrera followed by the £30million signing of Luke Shaw.
United have also been heavily linked with Juventus star midfielder Arturo Vidal, with fees of around £34million being reported.
Main image courtesy of Chevrolet via YouTube, with thanks.