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Revealed: Newcastle United days away from announcing record-breaking deal
Newcastle United are days away from completing a record-breaking sponsorship deal with Adidas, Football Insider understands.
The Magpies have been focused on improving commercial revenue at the club following their Saudi Arabia-backed takeover in 2021.
As revealed by Football Insider in July, Newcastle have been ‘desperate’ to rip up their contract with UK-based manufacturer Castore.
The Castore deal was worth around £5-7million per year for Newcastle, with the agreement set to run until 2027.
However, the Tyneside club have willingly paid the company to trigger an exit clause in their contract to allow them to sign a hugely improved deal with Adidas.
The imminent five-year deal was leaked via Newcastle’s ‘We Are Newcastle United’ documentary with Amazon in an episode since taken off air.
The docuseries stated that the Adidas deal is the ‘most lucrative in the club’s history’.
While the exact value of the deal is yet to be disclosed, Football Insider sources understand that it will be worth between £25-30million per year.
While that figure still trails significantly behind the record-breaking £90million deal recently signed between Adidas and Manchester United, Newcastle’s new manufacturer agreement brings them closer to Tottenham’s £30million Nike partnership.
The deal is expected to be announced on September 1, with Adidas set to release their first Newcastle kit next summer ahead of the 2024/25 campaign.
Newcastle posted revenues of £26.5m from sponsorship and merchandising in their latest 2021/22 accounts.
However, after striking major sponsorship deals with Noon, Sela and now Adidas over the last year, that figure is expected to grow significantly.
In other news, Newcastle pull plug on Arsenal deal after extensive talks