Manchester United closing in on $1billion Nike deal

Whilst Manchester United’s troubles on the pitch have been well-documented, off the pitch, it looks as though things are starting to look a lot better. According to the Express, the Red Devils are close to agreeing a world-record $1 billion kit deal with Nike that is set to come into effect, once the current deal expires in 2015.

Nike’s current 13-year deal that sees United pocket £23.5m per annum, ends in 2015. It was assumed that, there was going to be a bidding war between Adidas, Puma and Nike. In the end, it looks as though Nike are set to seal the deal with a record kit sponsorship deal that is set to provide the club with £70 million a year over a 10-year period.

The news should come as a big boost to United, who are looking to flex their financial muscle in the transfer market. And it goes to show that despite their troubles on the pitch, United are still top dogs when it comes to their popularity off it. The new deal will be worth thrice as much as their current deal, which is no mean feat in itself.

The deal will also mean that United will knock Real Madrid off top spot as the most lucrative kit deal of all-time. The £700m or $1.1bn that United will get from Nike looks set dwarf the £31m per year that Adidas pay Real Madrid.

With a new £53m-a-year shirt sponsorship agreement with Chevrolet kicking in this summer, it looks as though Moyes will have all the necessary money to splurge in the summer. Whether Moyes spends it wisely or not, remains to be seen. But, the fact that there are substantial funds available to help him spend big is certain to come as a big boost to not just Moyes but to the fans as well.