German sportswear company Adidas has announced an extension to its deal with Real Madrid, which will see it continue as the club's official kit supplier until the end of the 2027/28 season, reports, www.sportspromedia.com/.
Financial details of the extension were not disclosed, but it has been previously reported Real will pocket a guaranteed €1.1 billion (US$1.2 billion) over the duration of the deal, making it the most lucrative kit deal in soccer history.
Factoring in merchandising, it means the La Liga club could reportedly earn as much as €152 million (US$169 million) per year, a substantial increase on the estimated €35 million (US$39 million) per year through their existing deal with Adidas, which ran until 2020.
The new figures put Los Blancos well ahead of arch-rivals Barcelona, who earn a reported €85 million (US$95 million) per year from Nike.
Kasper Rørsted, Adidas chief executive, said: "This agreement will help us to achieve our mission to be the best sports company in the world. It also underpins Adidas' leadership in the football category."