U.K. soccer club Manchester United
MANU,
-1.64%
said it’s extending its apparel relationship with Adidas
ADS,
-0.62%
ADDYY,
-0.54%.
The deal will last an additional 10 years, running through June 2035, and a has minimum cash guarantee of £900 million ($1.16 billion), the club said.
Manchester United’s stock has slipped 3% this year despite talks the club, owned by the Florida-based Glazer family, has held about a prospective sale.
Adidas shares have rocketed 45% this year, though weakened slightly in midday trade.
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