Tuesday, 21 June 2016

Germany and Adidas extend their long-term partnership until 2022

Adidas has renewed its longstanding sponsorship with the German football association (DFB) with a lucrative new deal meant to hold off stiff opposition from rival Nike.

The agreement have been extended until 2022, paying 50 million euros ($56.7 million) per year to overtake France as the most lucrative national team sportswear contract.

"We are looking forward to continuing our close and trusting cooperation with the DFB", said Adidas Chief Executive Herbert Hainer. As part of the new agreement, adidas will continue to be a dedicated and reliable partner not only to the DFB but also to its national associations to further develop football in Germany on all levels.

The deal with Germany is about 60 million euros a year that Bayern Munich receives from Adidas, although the Bavarian club's contract runs until 2030.

"They were the most transparent, most comprehensive and ultimately, for the DFB, most financially successful talks in the history of our association", Reinhard Grindel, president of German soccer federation DFB, said in a statement on its website.

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