MADRID: World and European champions Real Madrid are set to sign off on a record 10-year, €1.1 billion (US$1.25 billion) renewal with German sportswear brand Adidas.
The agreement, which would run from 2020 until 2030 and represent the most expensive kit deal in soccer, would see Adidas pay more than double the annual €52m it commits under its current contract with the LaLiga club.
The sum is also reportedly only a guaranteed amount, and could rise to as much as €150m per year depending on merchandising.
If confirmed, the deal would see Los Blancos surpass Spanish rivals Barcelona’s kit deal with US sportswear giant Nike, which Marca says pays the LaLiga champions only €83 million each year, despite previous claims that the deal might be worth up to €155 million annually.
The agreement would also make Madrid the highest paid club on Adidas’ roster, dwarfing the annual €85 million the company currently pays to Premier League stalwarts Manchester United.
The deal would provide a major boost to Madrid’s finances at a time when the club are trying to find ways to fund a multi-million euro redevelopment of their Santiago Bernabéu stadium.
On the pitch, Madrid have experienced a dismal start to the LaLiga campaign following the departures of manager Zinedine Zidane and Portuguese star Cristiano Ronaldo. The club’s poor form saw new manager Julen Lopetegui sacked after just four and a half months in charge following the team’s crushing 5-1 El Clasico defeat to Barcelona at the end of October.
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