Manchester United renews Adidas partnership by 10 years in deal worth more than $1 billion

Manchester United announced a 10-year extension to its partnership with Adidas that the English club said Monday will be worth more than $1 billion.

United's deal with the German sportswear brand as its official uniform supplier runs to 2035 and "has a minimum cash guarantee of 900 million pounds (USD 1.15 billion), subject to certain adjustments," the team said, making it the most lucrative in Premier League history.

"It is very natural for us to continue our cooperation," Adidas CEO Bjorn Gulden said.

"We will combine tradition and innovation to please both the players and the fans." "We look forward to continuing our partnership with one of the most iconic clubs in football." The deal for the club's single biggest source of revenue provides stability at a time when it is up for sale, with United's American ownership weighing up offers from Qatari banker Sheikh Jassim bin Hamad Al Thani and English businessman Jim Ratcliffe.

Adidas supplied United's uniform from 1980-1992 and the partnership started again at the beginning of the 2015-16 season.

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.