Adidas Renews Partnership with Manchester United with Minimum Guarantee of $1.16 Billion

Manchester United renewed its 10-year partnership with official kit supplier Adidas on July 31, with a minimum cash guarantee of 900 million pounds ($1.16 billion). The new agreement, signed ahead of the start of the 2023/24 Premier League season next month, will extend the partnership until June 2035, according to the club.

Manchester United will compete in the lucrative Champions League again this season. The 20-time English champions raised their annual forecast last month. The original agreement with Adidas, according to the company's most recent annual report, links a portion of the yearly payments to the club's participation in the Champions League.

Failure to play in the Champions League for two more consecutive seasons reduces the club's annual payments by 30% of the applicable amount, according to the agreement. After its American owners, the Glazer family, launched a formal sale process late last year, United is still in talks to sell itself.