Recently crowned German Bundesliga football champion Bayern Munich has extended a long-term partnership deal with sportswear company Adidas.
The new deal will run for 15 years, from 2015-16 to 2029-30, and is worth a total of €900m ($990m). It replaces an existing agreement between the two parties that was due to run for another five seasons, until the end of 2019-20.
“With this extension of the contract until 2030 Adidas will continue its long partnership with FC Bayern München,” Adidas spokesman Oliver Brüggen said.
Adidas has an 8.33-per-cent ownership stake in Bayern and Brüggen added that the company would “in the future continue to work on co-operations with top teams and federations in international football.”
The announcement came shortly before Bayern was beaten by Borussia Dortmund last night on penalties in the semi-finals of the DFB Pokal, the German Cup.
UPDATED 26.06.2015: This article originally said that the new deal was for 10 years, from 2021 to 2029-30.