Man Utd’s Record Kit Deal Clauses Revealed
Manchester United’s world record £750m kit deal with adidas will be cut by more than £20 million a year if they fail to qualify for the Champions League for two consecutive seasons starting from 2015/16.
United failed to qualify for any European competition this season after finishing seventh last season – their lowest finish since the 1989/90 campaign.
According to media reports the German sportswear brand, which becomes the new kit sponsor from next summer, could also cancel the contract if the club get relegated from the Premier League.
However, if they do qualify, the payment would revert to £75 million a year with the Red Devils in line to receive an extra £4 million a year if they win the Champions League, the Premier League or the FA Cup.
Details of the deal with adidas, which was announced earlier this month, emerged after the club offered more of their shares on the New York Stock Exchange.
United announced on Wednesday that they would sell eight million shares, around 5% of the business, after selling 10% in 2012.
About £88.7m will be raised with money going to the Glazer family, the club’s US owners.
The shares offering comes two months after the death of owner Malcolm Glazer, with the club now controlled by his six children – who retain more than an 80% stake.
