Adidas Pays 50 Million Euros a Year to Extend Germany Dealby
Biggest national soccer team sponsorship doubles previous deal
Adidas has been Germany’s only kit sponsor going back 60 years
Adidas AG will sponsor the German national soccer team until 2022, a four-year extension that will cost the apparel maker 50 million euros ($57 million) a year.
Double the amount of the original agreement, the deal becomes one of the most expensive in national team soccer.
“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. “We will use the money to make the DFB and German football better.”
Adidas would have liked to extend the German partnership even longer, Chief Executive Officer Herbert Hainer said at a press conference in Paris on Monday. The company has sponsored the DFB for more than 60 years.
The extension comes amid record soccer sales for Adidas, some 2.5 billion euros this year, boosted by the month-long Euro 2016 tournament. Overall, the company has said it is redirecting marketing spending away from clubs and toward individual players, who influence young consumers through their Twitter and Instagram accounts.