When Sir Alex Ferguson stepped down from the managerial role at Manchester United in 2013, it marked an end of a glorious era. And soon another glorious era is about to come to a close, after kit sponsor Nike have revealed to end their 13-years-relationship with Manchester United at the close of next season.
According to Nike, the terms demanded by Manchester United did not “represent good value for shareholders”.
A statement from Nike said: “Manchester United is a great club with 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 2014-15 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.”
United currently earn around £23.5m a-year from Nike but the 20-times-Premier League-champions are looking to secure a mega deal of up to £70m a-season.
The Times reveals Adidas are now in pole position to become Manchester United’s new kit supplier. United have been optimistic about striking a ten-year deal worth in the region of £750m, which Nike was unprepared to pay that amount. Should the deal go through, it would represent the biggest kit contract in sporting history.