They may have suffered some setbacks on the pitch, but Bayern Munich are doing just fine off it. The German champins have just extended their deal with sportsmaker Adidas to the tune of almost a billion euros.
Bayern Munich were licking their wounds on Wednesday after crashing out of the German Cup and losing Arjen Robben and potentially Robert Lewandowski to injuries. But they got a bit of financial balsam from long-time sponsor sportswear manufacturer Adidas, who extended their relationship with the Bavarian behemoths.
The two sides agreed to continue their relationship, originally scheduled to run until 2020, until 2030. There was no official word on how much the new deal is worth. But the Sport Bild magazine put its value at 900 million euros ($992 million).
"This activity underlines our new strategy," Adidas spokesman Oliver Brüggen said in a statement. "In future, we'll be concentrating even more on partnerships with select top teams and sports associations as well as with ambitious young players."
Sport Bild reported that the deal with Bayern was renegotiated after it emerged recently that English giants Manchester United had concluded a relationship with Adidas worth a billion euros.
Whatever the case may be, the new sponspring arrangement will have Bayern's detractors around Germany gnashing their their teeth. The Budnesliga's richest club just got even more wealthy.