Although Nike is looking to expand the presence of their brand in the world of soccer, they’ll have to wait a few decades before being able to splash their swoosh all over the World Cup. That’s because Adidas has announced that they’ll be extending their sponsorship of the FIFA World Cup through 2030.
The last contract Adidas signed with FIFA was in 2005. That deal, estimated to be worth $350 million, made Adidas the official sponsor through the 2014 World Cup in Brazil. The financial details of the latest contract extension aren’t yet known.
FIFA’s Thierry Weil released a statement on Thursday regarding the partnership, calling Adidas “an integral part of the FIFA World Cup” and noting how the company has been featured “at the heart of the action at every tournament since the 1970 World Cup” (Reuters).
Adidas issued a statement as well, praising the “unique partnership” that allows the company to be the “leading football brand worldwide.” But we all know that, regardless of the emotionless business-speak, the executives of the company celebrated the occasion by popping champagne and listening to Killer Mike.