A club statement read: "Manchester United plc has reached a 10-year agreement with adidas for a global technical sponsorship and dual branded licensing deal for a minimum guarantee of £750m, subject to certain adjustments, beginning with the 2015/2016 campaign."

Sportswear giants nike air max 1 announced last week that they had decided not to continue their relationship with United, claiming the Premier League side were demanding too much money, having first signed with the club in 2002.

Last week's statement from Nike Air Max UK, who are set to begin their final season of sponsorship with United, read: "Manchester United is a great club with passionate fans. We are proud to have partnered with them for the last 12 years and will continue to sponsor the club until the end of the 2014/15 season."

"Any partnership with a club or federation has to be mutually beneficial and the terms that were on offer for a renewed contract did not represent good value for Nike's shareholders. We look forward to a successful final season with the club."

Nike's original deal was worth £303m, with extra income from a profit share agreement from merchandise sold worldwide.

On July 7, United unveiled their new home kit for the 2014-15 season - which will be the last designed by Cheap Nike Air Max and the first to bear the logo of new sponsor Chevrolet.

www.njfootwear.co.uk