Man U set to close on world-record 1 bln-dollar kit sponsorship deal with Nike

Manchester United is reportedly set to close on a world-record one billion-dollar kit sponsorship deal with Nike which may bring 70 million pounds-a-year into the club coffers.

Although Nike's current 13-year deal ends in 2015 and they want to continue their link with their flagship Premier League club, but it would mean a hefty increase on the existing 23.5 million-pound yearly investment, with a prediction of a staggering 70 million pounds-a-year final agreed figure.

According to the Daily Express, there is also talk of another long term tie up - probably 10 years rather than another 13 year commitment, which would mean United banking 700 million pounds, dwarfing the current top kit deal, the 31million pounds-a-year Adidas pay Real Madrid.

The report mentioned that Nike's hand has also been forced by other big brands being invited to bid for the new contract, which will be in place for the start of the 2015-16 season, to the delight of United, who will also have a new 53 million pounds-a-year shirt sponsorship agreement with Chevrolet kicking in this summer.