MANCHESTER UNITED AND ADIDAS HAVE RENEWED THEIR COLLABORATION IN A 10-YEAR PACT.

Manchester United renewed its 10-year collaboration with Adidas on Monday, with a minimum payment guarantee of £900 million ($1.16 billion).

The new agreement, signed ahead of the start of the 2023/24 Premier League season next month, will extend the collaboration until June 2035, according to the club.

The deal with Adidas is worth more than $1 billion. Photographer: Getty Images

Manchester United renewed its 10-year collaboration with Adidas on Monday, with a minimum payment guarantee of £900 million ($1.16 billion).

The new agreement, signed ahead of the start of the 2023/24 Premier League season next month, will extend the collaboration until June 2035, according to the club.

Manchester United will compete in the lucrative Champions League again this season. The 20-time English champion boosted its annual projection last month.

The initial agreement with Adidas, according to the company’s most recent annual report, relates a portion of the yearly payments to the club’s participation in the Champions League.

According to the agreement, if the team fails to compete in the Champions League for two more consecutive seasons, its annual payments will be reduced by 30% of the corresponding sum.

After its American owners, the Glazer family, initiated a formal sale process late last year, United is still in talks to sell itself.