Manchester United signs lush Nike deal

|About: Nike Inc. (NKE)|By:, SA News Editor

Nike (NKE -0.9%) has signed a record sponsorship deal with Manchester United (MANU +4.8%), according to a report from The Daily Mirror.

The club will bring in £600M ($998M) a year from Nike in a new 10-year agreement which begins when the current contract between the two companies expire next year.

The team is currently in 6th place in the English Premiere League, an uncharacteristic position which is expected to prompt lavish off-season spending for new talent.