Manchester United extends Adidas deal in pact worth $1.2 billion

U.K. soccer club Manchester United
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+2.32%
said it’s extending its apparel relationship with Adidas
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+2.73%.

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.