Adidas have confirmed that they will be Manchester United's new kit supplier in a deal worth £750m.

The 10-year agreement will start from the 2015-16 campaign following Nike's final season as United's technical sponsor and trademark licensee.

The Premier League club will receive around £70m per year during their partnership with Adidas, which is one of the most lucrative in world sport.

"We are excited to team up with Manchester United, one of the most successful and most loved football clubs globally," Adidas CEO Herbert Hainer said in an official press release.

"Our new partnership with Manchester United clearly underlines our leadership in football and will help us to further strengthen our position in key markets around the world.

"At the same time, this collaboration marks a milestone for us when it comes to merchandising potential."

United's kit has been supplied by Nike for the past 12 years.