Adidas' partnership with Bayern Munich FC, which was due to expire in 2020, has already been extended for another ten years until 2030. The Wall Street Journal estimates that the deal with the new German Bundesliga winners is worth about €900 million, which reportedly compares with €25 million per season for the current agreement. A long-time partner of the Bavarian club, the Adidas group holds about 8.3 percent of its shares, and Herbert Hainer, the Adidas group's chief executive, has been on the club's board since 2003. The reported price paid for the deal would mark yet another escalation in sponsorship agreements for major European football clubs, after the Adidas group signed a ten-year agreement valued at £750 million (€1,018.6m-$1,134.0m) to take over from Nike as kit supplier for Manchester United FC from the start of the next football season.