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Adidas Signs $700 Million Extension With MLS, Its Largest Investment In US Soccer

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Adidas Signs $700 Million Extension With MLS, Its Largest Investment In US Soccer
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When it comes to the world of sports apparel, Nike Inc (NYSE: NKE) has basketball and adidas AG (ADR) (OTC: ADDYY) has soccer.

On Wednesday, Adidas further solidified its association with the world’s most popular sport by extending its long-term partnership with the MLS through 2024.

The deal, a $700 million extension, is Adidas' biggest investment ever in U.S. soccer.

The move is a timely one by Adidas, with interest in the MLS growing in the U.S. as the league prepares to introduce several expansion teams. The MLS is currently the fastest-growing sports league on social media.

Partnering with the leader in the sport worldwide will further strengthen U.S. soccer presence on an international stage.

“Sport is the epicenter of our culture and, in the U.S. and Canada, soccer is the most popular sport for young people to play,” said Adidas North America President Mark King. “Our partnership with MLS puts adidas at the core of sport in North America, allowing us to make a positive difference in an athlete’s game and life. Built from athlete and consumer insight, we are looking to create the future of sport and bring new and different things to the game the world has never seen before.”

Adidas will outfit MLS teams with uniforms, footwear, training gear and sideline apparel. The six-year deal also emphasizes investment in young athletes, a key aspect of the extended partnership, to support the next generation of athletes through youth development and programming.

“Major League Soccer has built a legacy with adidas that has been essential in the rise of our League,” said MLS Commissioner Don Garber. “[A]didas has been a major collaborator with us since the inception of MLS, and we are proud that our partnership with this globally-respected brand will continue to enhance the growth of the game in North America for many more years. We will work with adidas on innovative concepts to showcase the sport and our elite athletes, and we will intensify our mission to develop top North American soccer players for generations to come.”

Related Link:  Exclusive: Adidas' Mark King Talks About The Company's Comeback, Turning The Corner In North America

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Image Credit: Used with permission

Posted-In: Adidas Don Garber Mark KingNews Contracts Sports Media General Best of Benzinga

 

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