According to report coming in from a top Spanish newpaper, Spanish soccer giants Real Madrid are set to put pen to paper on a record ten-year, €1.1 billion (US$1.25 billion) renewal with German sportswear brand Adidas, according to Marca.
The agreement, according to Marca will run from 2020 to 2030 which will become the most expensive kit deal in soccer. Adidas are exoected to pay more than double the annual €52 million its currently paying under the current contract with the LaLiga club.
The mouth watering figure according to reports could also rise to as much as €150 million 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 giant 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.