Adidas extends FIFA World Cup sponsorship until 2030
According to Sport24, FIFA Marketing Director Thierry Weil said in a statement on Thursday that Adidas is an integral part of the FIFA World Cup story, quite literally featuring at the heart of the action at every tournament since the 1970 World Cup.
The last contract extension with FIFA was announced in 2005, covering the 2010 World Cup and next year's tournament in Brazil, the report said.
That deal was estimated to be worth 350 million dollars.
Adidas declined to give financial details of the latest extension, the report added.
While last year's Olympics and European soccer championships boosted Adidas, it has struggled to maintain momentum in 2013, losing ground in the European market for sports apparel to the larger Nike and warning of smaller than expected growth in profits, according to the report. (ANI)
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