Manchester United closing on £600m kit deal - share prices rise

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Football News

Manchester United are thought to on the verge of announcing a new £600million kit deal with Nike, after share prices at the club rose by more than eight per cent on the New York Stock Exchange on Wednesday.

According to the Daily Telegraph, the Premier League champions have been in talks with the American sportswear giant for the past 12 months with a view to signing a world-record contract when their current agreement runs out in the summer of 2015.

Adidas, Puma and Warrior are also understood to have held preliminary negotiations with Red Devils officials, but it's thought that Nike remain the frontrunners for the prospective deal.

Manchester United's marketability has been relatively unaffected in the post Sir Alex Ferguson era so far, despite the fact the club looks set to be without Champions League football next season, following a disappointing showing in the Premier League in 2013/14.

David Moyes has also been unable to successfully defend the domestic title, with United sat in a lowly seventh place, way off the pacesetters at the top of the table.

Red Devils fans will be monitoring the kit deal situation closely, in the hope that successful negotiations will guarantee a significant transfer kitty for Moyes to begin overhauling his first-team squad, with one eye on protecting the long-term future.

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