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| Man United signs £750m kit deal with Adidas for 10 years | |
| (35 minutes later) | |
| Sportswear giant Adidas has signed a £750m deal to make Manchester United's kit for 10 years from next season. | |
| It comes after US rivals Nike decided to end their association at the end of the coming 2014-15 season. | It comes after US rivals Nike decided to end their association at the end of the coming 2014-15 season. |
| Nike have been paying United £23.5m a year, and the new deal is worth a world record-breaking £75m a season to the Old Trafford club. | |
| Champions League winner Real Madrid's £31m-a-year deal with Adidas was previously the biggest club deal. | Champions League winner Real Madrid's £31m-a-year deal with Adidas was previously the biggest club deal. |
| Adidas will provide training and playing kit to all of the club's teams. In addition, it will have the exclusive right to distribute dual-branded merchandising products worldwide. | Adidas will provide training and playing kit to all of the club's teams. In addition, it will have the exclusive right to distribute dual-branded merchandising products worldwide. |
| The huge sum involved is only £40m less than the Glazer family paid for club in 2005. | |
| Sales boost | Sales boost |
| Adidas chief executive Herbert Hainer said the deal would help the firm "to further strengthen our position in key markets around the world". | Adidas chief executive Herbert Hainer said the deal would help the firm "to further strengthen our position in key markets around the world". |
| "We expect total sales to reach £1.5bn during the duration of our partnership," he added. | "We expect total sales to reach £1.5bn during the duration of our partnership," he added. |
| It will be the first time Adidas has made the Premier League's team's strip for 23 years, since the 1991-92 season. | It will be the first time Adidas has made the Premier League's team's strip for 23 years, since the 1991-92 season. |
| The announcement comes a day after the German firm, a Fifa World Cup sponsor, provided the playing kit for both the teams in 2014 final, Germany and Argentina. | The announcement comes a day after the German firm, a Fifa World Cup sponsor, provided the playing kit for both the teams in 2014 final, Germany and Argentina. |
| In midday trade on the German stock exchange, the firm's shares were up by 2.78%. | In midday trade on the German stock exchange, the firm's shares were up by 2.78%. |
| Other teams supplied by the firm include Bayern Munich, Chelsea, AC Milan, Flamengo and - from the 2015/2016 season - Juventus. | Other teams supplied by the firm include Bayern Munich, Chelsea, AC Milan, Flamengo and - from the 2015/2016 season - Juventus. |
| 'Global position' | |
| Dr Leah Donlan, a marketing expert at Manchester Business School said the Adidas deal "will be seen to provide them with a significant competitive advantage over its rival Nike". | |
| She added that by adding Manchester United to its portfolio of teams, Adidas could "strengthen its global brand position". | |
| When it announced it was stepping away, a Nike statement said "the terms that were on offer for a renewed contract did not represent good value for Nike's shareholders". | When it announced it was stepping away, a Nike statement said "the terms that were on offer for a renewed contract did not represent good value for Nike's shareholders". |
| Manchester United did not qualify for this season's Champions League for the first time in 19 years. | Manchester United did not qualify for this season's Champions League for the first time in 19 years. |
| The club suffered its worst Premier League finish to date last season after manager Sir Alex Ferguson left following 26 years in the job. | The club suffered its worst Premier League finish to date last season after manager Sir Alex Ferguson left following 26 years in the job. |
| His successor, David Moyes, lasted just 10 months and Dutch manager Louis van Gaal takes over now that the Netherlands' World Cup campaign has ended. | His successor, David Moyes, lasted just 10 months and Dutch manager Louis van Gaal takes over now that the Netherlands' World Cup campaign has ended. |
| It has already unveiled the last MUFC kit bearing the Nike logo, one which features US motor giants Chevrolet as shirt sponsors for the first time. | It has already unveiled the last MUFC kit bearing the Nike logo, one which features US motor giants Chevrolet as shirt sponsors for the first time. |
| They are said to be paying £53m a year to have their names splashed on the red shirt fronts. | They are said to be paying £53m a year to have their names splashed on the red shirt fronts. |
| As part of Nike's agreement, the firm had been given a period of exclusivity to negotiate an extension and also retained the right to match any other offer. | As part of Nike's agreement, the firm had been given a period of exclusivity to negotiate an extension and also retained the right to match any other offer. |
| But the company decided against exercising either option. | But the company decided against exercising either option. |
| Since the Glazer family took over at Manchester United, they have segmented many of their sponsorship deals, seeking specific regional partnership deals in many of their sponsorship sectors. | Since the Glazer family took over at Manchester United, they have segmented many of their sponsorship deals, seeking specific regional partnership deals in many of their sponsorship sectors. |
| Other high-profile arrangements included an agreement to rename their Carrington training ground. | Other high-profile arrangements included an agreement to rename their Carrington training ground. |