Spanish Soccer majors Real Madrid are set to finalise a new agreement with the German sportswear brand adidas which will see the club earn a reported €110 million a year, more than double their current deal, for the next ten seasons.
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 €52 million it commits under its current contract with the La Liga club.
It was in news that Nike and Under Armour were rumored to be interested in the deal, but Adidas offer was far too strong for the competition. With the new Deal, Real Madrid moves ahead of both Manchester United and Barcelons’s kit deals.
Having a toll of 16 sponsorship, Madrid continues to place themselves in a strong financial position under President Florentino Perez.
The financial deal with adidas renders a major boost to the economic status of the real Madrid at the time when the club is 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 La Liga 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.