Man Utd To Enter New Nike Negotiations

Barclays Premier League leaders Manchester United will enter into new talks with Nike this week in a bid to strike a more lucrative extension to the partnership, according to media reports.

The existing kit deal with Nike began in 2002 and was worth £302 million plus half of profits gained from the sale of merchandise. It is reportedly worth around £38 million this season.

The agreement is not scheduled to expire until 2015, but the Times claims that the two parties have recently entered into a six-month exclusive renegotiation window.

The British newspaper reports that Nike is likely to try to complete a deal during the exclusivity period and United are pressing for the new contract to begin a year early, in 2014. 

If the two parties cannot agree terms during the initial window, United would be able to spend a further six months talking to rival sportswear companies, although Nike still has the option to top any other offer. 

There has also been speculation that the American sports giant could help fund a move for Nike ambassador Cristiano Ronaldo. As it stands the former United player turns out for adidas-sponsored Real Madrid, and with adidas ambassador Lionel Messi playing for Nike-endorsed Barcelona, a move back to Old Trafford could give Nike a marketable advantage. 

United have already secured huge investment with a new shirt sponsorship contract with Chevrolet, bringing in a record-breaking £375 million – around £53.5 million a year – over the seven-year duration. 

Meanwhile, United also recently announced strong financial results for the three-month period ending December 2012.