Manchester United Set to Extend Nike Deal

Premier League champions Manchester United have agreed a five-year extension of its kit deal with Nike worth $480m, according to The Sun.

The club’s existing deal with Nike sportswear giant began in 2002 and is worth $488m plus half of the profits from sales of merchandise. The current deal will expire at the end of the 2014-15 season, though the two companies agreed an exclusive renogotiation period of six months earlier this year to come to an agreement of an extension.

Manchester United have also reportedly secured sales rights for their kit, which could add $24m per annum.

Neither Manchester United or Nike have commented on the reported extension.