Spanish soccer juggernaut Real Madrid is set to sign off on a record ten-year, €1.1 billion (US$1.25 billion) renewal with German sportswear brand Adidas, according to Marca. According to Marca’s Carlos Carpio, Adidas has reportedly agreed to pay Real Madrid €110 million each year, which is more than twice the €52 million paid annually under their current deal. Additionally, Adidas could potentially pay Los Blancos up to €150 million per year because of “another variable part depending on merchandising.”
Real Madrid and Adidas will sign a €1.1B deal for 10 years – Real Madrid will get a minimum of €110M annually (could rise to €150M a year if certain trophies are won) – making Madrid the highest paid shirt sponsor club in history surpassing Man. United’s current deal. [marca] pic.twitter.com/jSPOaBHiML
— SB (@Realmadridplace) November 5, 2018
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.
On to how this compares, Real rival Barcelona currently has a deal in place with Nike worth approximately $95 million a year, while the Premier League’s Manchester United is the second-highest-paid Adidas club at $97 million per year.
The new sponsorship deal will not only help fund club president Florentino Perez‘s plan for a €575 million renovation of the Santiago Bernabeu Stadium. The proposed plan is an extensive one that will see the outside of the stadium completely changed, a retractable roof added, and much more.