German Bundesliga football club Hamburg SV has extended its contract with kit partner Adidas through April 2024, according to German news agency DPA.
The new 10-year contract will reportedly be worth between €40m ($54.4m) and €50m, depending on Hamburg’s performance on the pitch. The agreement is set to be officially announced during the Telekom Cup pre-season competition, which Hamburg will host and compete in from July 26-27.
“It's a great sign that Adidas has seen that the reconstruction of the HSV is a real model for the future,” Hamburg board member Joachim Hilke told DPA.
Adidas’ commitment to Hamburg will come as a financial boost to the club, which is said to be facing liabilities of around €100m.
Hamburg avoided its first ever relegation from the Bundesliga in May by defeating SpVgg Greuther Fürth on away goals in a play-off.