German Bundesliga football club Hamburg SV has confirmed the extension of its contract with kit partner Adidas through the 2023-24 season.
Having first been reported last week, the new 10-year contract will reportedly be worth up to €50m ($68m), depending on Hamburg’s performance on the pitch.
Adidas’ commitment to Hamburg comes as a financial boost to the club, which is said to be facing liabilities of around €100m. Hamburg, which avoided its first ever relegation from the Bundesliga in May by defeating SpVgg Greuther Fürth on away goals in a play-off, said the new deal will form an “integral part” of its restructuring process.
Joachim Hilke, Hamburg’s board member for marketing, added: “It is extremely positive that we will take the next step with Adidas, who become our first decade-long sponsoring partner while we restructure our club. This premature extension is a clear signal of intent from both parties, so we are delighted to carry on together.”