Manchester United have just announced the signing of a 10-year, £750 million kit deal with Adidas, in what will be the most lucrative equipment deal in football.
The club tweeted confirmation of the arrangement at lunchtime today.
— Manchester United (@ManUtd) July 14, 2014
The $75 million-a-year contract was announced after Nike decided that trebling the value of its current deal would not be worthwhile for the company.
The fact that the German sportswear giant has agreed to invest so heavily in the club shows that the strength of the Manchester United brand still endures despite their worst-ever Premier League season.
Nike has one more season with United - their final United shirt was released last week and features the Chevrolet logo for the first time, after the US car-maker signed a £327 million, seven-year sponsorship deal.