Manchester United has agreed to a 10-year kit sponsorship deal with Adidas worth a guaranteed $1.28 billion.

A statement read: "Manchester United plc (NYSE:MANU) has reached a 10-year agreement with adidas for a global technical sponsorship and dual branded licensing deal for a minimum guarantee of €940m, subject to certain adjustments, beginning with the 2015-2016 campaign.

"For the 2014-2015 season, Nike will continue in its role of technical sponsor and trademark licensee."

United also receives $77 million per season from Chevrolet for sponsorship on the front of their kit.