At a time when the Saudi Pro League is garnering all headlines pertaining to the sport or the vast sums of money in it, the focus of the business of football has shifted back to Europe. ? ?
Brands United: Man-U, Adidas Renew Partnership In Billion Dollar-Plus Deal
Old Trafford and sportswear brand sign 10-year extension
The Manchester United team.
The Manchester United team.
On Monday, Manchester United announced a 10-year extension to their partnership with Adidas. According to the club, the deal will be worth more than $1 billion.
The association between Man-U and the German sportswear company as its official uniform supplier extends to 2035, and "has a minimum cash guarantee of 900 million pounds (USD 1.15 billion), subject to certain adjustments," the club said.?
This makes Manchester United the most lucrative team in the history of the Premier League.
Adidas kitted out United from 1980-1992 and in 2015-16 they teamed up again.
“It is very natural for us to continue our cooperation," Adidas CEO Bjorn Gulden said. “We will combine tradition and innovation to please both the players and the fans. We look forward to continuing our partnership with one of the most iconic clubs in football."
The deal could not have come at a better time for the club. It gives them financial stability at a time when it is up for sale. Qatari banker Sheikh Jassim bin Hamad Al Thani and English businessman Jim Ratcliffe have made offers to United's American owners, the Glazer family.
The Glazer family have ensured that the club stays in good monetary health but on the field it is not the Manchester United of old. And the fans do not like the Glazers.?
Recently, United great David Beckham told ‘The Atlantic’, "I think so [the Glazers should sell]. I think it's purely because the fans want it. Once you lose the fans, especially at a club like Manchester United, it's hard to get them back.”
Beckham said he would be open to a role at the club that helped make his legend, but he hasn’t been approached yet.?
"I haven't been approached and I suppose any involvement with Manchester United would mean the world to me, going forward. But who knows?,” he said. “We'll see what happens in the next few weeks or months. Hopefully, a decision gets made and if I'm involved in any way… if not, I'll be a United fan and just do what all the other fans are doing - turn up and watch our team."
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