MADRID: Real Madrid are set to agree football’s first ever £1bn kit deal with German sportswear brand Adidas.

The two parties are reported, by the Spanish media, to be on the verge of signing a 10-year deal which will be worth £106m ($152m) a year to the club.

The deal would be the biggest in football, trumping Manchester United’s current deal with Adidas which is worth a total of £750m.

Real Madrid’s existing deal with Adidas is not due to expire until 2020, but they have decided to re-negotiate four years early and seal a long-term relationship.

Adidas will continue to have the top three kit deals in football, as they also renewed a deal with German champions Bayern Munich last year worth €900 million (£645m).