United currently sit 14th on the Premier League table as they enter 2025.
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German sportswear giants adidas committed to a £900m 10-year contract with United in 2023 - the richest in the Premier League.
However, the Daily Mail says the agreement includes a break clause for adidas.
Should United be relegated, the deal's worth would be halved to £45m and also include a one-year's notice ahead of adidas walking away.
United are currently seven points clear of the bottom three.