Adidas AG extended its kit sponsorship deal with German soccer team Bayern Munich FC for an additional 10 years, the company said Tuesday. The contract had another five years to go.
The deal was reportedly worth €900 million ($1.1 bn).
Bayern Munich, which like Adidas is based in the German region of
Bavaria, was recently crowned the 2014-2015 champions of the Bundesliga,
the top flight of German soccer. The team’s current deal – for a
reported €25 million a season – expires in 2020, but its players are now
locked in to wear Adidas jerseys through 2030, according to the
company. Adidas has sponsored Bayern Munich for more than 50 years..
Herbert Hainer, a native of Bavaria and Adidas’s chief executive since
2001, has been a board member of Bayern Munich since 2003.
The deal is one of the biggest in football, worth way more than Arsenal's £30 million a year sponsorship with Puma and Chelsea's deal with Adidas, also worth around £30 million a year.
Adidas
last year signed Manchester United FC to a 10-year deal valued at £750
million ($1.15 bn) beginning next season. The team’s jerseys will
continue to be supplied by Nike through
this summer.
