Manchester United’s Record Adidas Deal Could be Reduced, Glazers Free Up Shares

July 31, 2014

Manchester United may lose 30% of their world record £750m kit deal with German sportswear manufacturers adidas if they fail to qualify for the Champions League in consecutive seasons from 2015-16, according to reports.

The reports have also suggested the deal could be terminated if the club gets relegated from the Premier League.

United failed to qualify for any of the European competitions this season after finishing seventh in 2013-14.

Glazers Sell Shares

The news follows Manchester United owners, the Glazers, selling eight million of their shares in the club to raise £89 million ($150m) which amounts to a stake of about five percent.

Once the shares are sold, the six children of the late Malcolm Glazer will still own more than 80 percent of the club’s total shareholding.

All the proceeds will go to the Glazers’ investment vehicle Red Football LLC and not to Manchester United – something that will fuel anger from fans’ groups who have often claimed the Glazers are taking money out of the club.

The Glazers have owned the record Premier League champions since 2005 when they bough the club for £790 million. 

The shares were listed at $14 and have risen to a price of $19.31 on Wednesday, valuing the club at almost $3.2 billion.

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