Premier League club Manchester United and German sportswear company Adidas announced the extension of their partnership for another decade in a new deal worth £900 million ($1.2 billion).

Adidas' current deal with the Red Devils expires in two years, and the company has secured its renewal which would give them the rights to manufacture, supply and sell Man United's iconic red shirts and other team gear until 2035.

"Adidas and Manchester United are two of the most important brands in International Football and it is very natural for us to continue our cooperation. We will combine tradition and innovation to please both the players and the fans," Adidas CEO Bjørn Gulden said.

The Premier League side will get around $115 million annually from the Adidas deal, aside from the $58 million that tech company TeamViewer pays per season as the main kit sponsor for their logo to appear in front of the shirts until 2026.

Second spell for Adidas

The three stripes company has been the team's official kit supplier since the 2015-16 season after agreeing to a then-record deal back in 2014 for £750 million ($1.3 billion in 2014), which is set to last until 2025.

Adidas previously supplied Man United's kits from 1980 to 1992. English sportswear brand Umbro took over the reins in 1992, providing team jerseys until 2002.

American sportswear giant Nike was the previous kit supplier of the club from 2002 to 2015, notably sponsoring the team during their UEFA Champions League triumph in 2008.

Nike stopped renewing its deal with the Red Devils in 2014 after deeming it too expensive.