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Adidas and Manchester United agree to a $1.2 billion relationship.

Manchester United and Adidas have agreed to extend their massive £900 million ($1.2 billion) garment sponsorship arrangement for another decade.

After leaving Nike in 2015, the British football team renewed their contract with the German sportswear manufacturer, making them one of the most lucrative Premiere League sponsors.

As stated on the club’s website, this new arrangement “increases the focus” on its women’s squad for new apparel, and the Adidas collaboration has “delighted supporters all over the world with innovative programs, classic uniforms on the field, and fan-favorite lifestyle apparel in the stands.”

In a statement, Adidas CEO Bjorn Gulden expressed his company’s “extreme pride” in having their contract with Manchester United renewed. Since Adidas and Manchester United are two of the sport’s most recognizable names worldwide, it only makes sense for us to keep working together.

The contract announced on Monday is a significant rise from the last agreement, which was valued about £750 million. When a sports club gains popularity throughout the world and begins selling merchandise like trendy new jerseys, the money starts to roll in.

This transaction occurs at a time when the legendary club may be put up for sale. Its American owners, the Glazer family, announced last year that they were beginning a “process to explore strategic alternatives,” which might lead to a complete sale. Fans were relieved to hear this because the team’s ownership has been unpopular since the leveraged purchase of Manchester United incurred a net debt of $626 million, as reported by the club’s most recent financial statements.

Manchester United, which has been around for 145 years and is currently ranked second in the world by Forbes, is estimated to be worth $6 billion. The news boosted the team’s stock price by 2%.

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