Manchester United will confirm a record kit deal of around £70 million-a-year with Adidas on Monday afternoon. The figure is more than double the amount they currently pocket from current partner Nike. Nike's kit deal which runs till the end of the 2014/2015 season will end after 13 years. Nike released a statement last week that they have pulled out of negotiations because of the figures being demanded. read the statement after the cut
The statement read: "Any partnership with a club or federation has to be mutually beneficial and the terms that were on offer for a renewed contract did not represent good value for Nike's shareholders. We are proud to have partnered them or the last 12 years and will continue to sponsor the club until the end of the season. Manchester United is a great club with the passionate fans. We are proud to have partnered with them for the last 12 years and will continue to sponsor the club until the end of the 2014-2015 season. Any partnership with a club or federation has to be mutually beneficial and the terms that were on offer for a renewed contract did not represent good value for Nike's shareholders. We look forward to a successful final season with the club."
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