German football team extends contract with Adidas until 2022

Paris, June 21 (IANS) Germany’s football team and sports equipment brand Adidas have announced that they have extended the contract of sponsorship until 2022.

The new contract, which extends the collaboration between both parties for four additional years, was on Monday signed in this French capital, where Germany will play the last game of the Euro 2016 group stage against Northern Ireland on Tuesday, reports Efe.

The signing ceremony was attended by German football association president Reinhard Grindel and Adidas CEO Herbert Hainer.

The renewal of the contract had been approved by the German football association with “a significant improvement” in contract conditions.

Although neither the federation nor the brand announced the value of the new contract, German press speculated that national team will get between 65 and 70 million euros (from $73.7 to $79.3 million) per year, compared to 25 million euros ($28.3 million) under the old contract.



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