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Manchester United agree record shirt deal with Adidas

Reuters - UK Focus

LONDON, July 14 (Reuters) - Manchester United (NYSE: MANU - news) have agreed a 10-year, 750 million pounds ($1.3 billion) deal with Adidas AG (Other OTC: ADDDF - news) for the German sportswear company to supply shirts and kit to the former English soccer champions.

United, who finished seventh in the Premier League last season, had previously enjoyed a long-running supply deal with Nike (Sao Paolo: NIKE34.SA - news) , the world's largest sportswear group. Adidas will take over the contract from the 2015/16 season.

The deal, announced on Monday, is a record for the Manchester club and will result in United receiving double the average sums paid to European rivals.

($1 = 0.5877 British Pounds) (Reporting by Kate Holton; Editing by Neil Maidment)