Amid all the excitement around Manchester United's potential striking superstar and game-changing goalkeeper, it's easy to overlook the importance of Erik ten Hag's first summer signing.
Manchester United sign ten-year Adidas kit deal worth at least £900million
31.07.2023 - 09:27 / manchestereveningnews.co.uk
Manchester United have agreed a major extension to their kit deal with Adidas worth at least £900m.
The Old Trafford club have confirmed that the US sportswear giant will be their official kit supplier for a further decade.
The new deal runs until June 2035 and has a "minimum cash guarantee" of £900m, United said.
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The announcement comes after United revealed they expect their sales to surge to record heights by the end of their financial year.
The Premier League club upped their revenue guidance from between £590m and £610m to between £630m to £640m.
They also increased their forecasted adjusted EBITDA of between £125m to £1400m up to between £140m and £150m.
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The rises came after United posted a total revenue of £170m for the three months to March 31, 2023, up from £152.8m from the same period in 2022.
The club's operating losses were also slashed from £21.8m to £4.7m.
United's commercial revenue rose from £65.6m to £69.4m while their match day earnings increased from £35.7m to £49.9m.
Sponsorship revenue rose by £1.8m to £41m while retail, merchandising, apparel and product licensing revenue increased by £2m to £28.4m.
However, their broadcasting revenue dipped slightly from £51.5m to £50.7m.
United said the fall in broadcasting revenue was due to the men's first team competing in the Europa League instead of the Champions League.
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