UK: Adidas to take over Man U kit

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Adidas will take over from Nike as the official kit supplier of English Premier League team Manchester United from the 2015/16 season. The world’s second-biggest sporting goods maker said yesterday it had signed a 10-year deal with the record 20-time English soccer champion club. The agreement was worth a minimum of £750 million (R14 billion), Manchester United said separately. Adidas said it expected sales from the partnership to exceed £1.5bn over the 10-year term. Nike’s contract with Manchester United will end after the coming 2014/15 season. The terms being offered to renew the partnership “did not represent good value for Nike’s shareholders”, Nike said. – Bloomberg

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