Spanish soccer club Real Madrid has reportedly signed a sponsorship deal with Adidas worth roughly $1.2 billion. According to Marca, the decade long partnership will pay out approximately $125 million per year. It is the largest deal of its kind in the entire world of sports.
The record-breaking deal would pay Los Blancos $125 million-per-year—making them the highest paid team by overtaking Manchester United's $97 million/year contract. Adidas has sponsored the popular club since 1998.
To put into perspective just how much money Adidas is shelling out to sponsor Real Madrid, Nike paid less ($1 billion) to outfit the entire NBA for the next eight seasons. Marca also reported that the Adidas money would be used for various undertakings for the club's future including a renovation to its home pitch, Santiago Bernabéu Stadium.
Adidas has not returned a request for comment.