(Bloomberg) — The numbers are in for Cristiano Ronaldo’s 10-year contract with Nike Inc.
The Portuguese forward, formerly of Manchester United and Real Madrid, and now with Italy’s Juventus, gets a basic annual fee of 16.2 million euros ($17.8 million) from the U.S. sporting goods company, the weekly magazine Spiegel reported, citing a draft contract between Nike and Polaris Sports, which owns his worldwide marketing rights. The deal was signed in 2016.
The agreement, which is valid as long as Ronaldo is playing for a top-tier club, will take the player into his 40s. He’s also set to get various performance bonuses.
Nike paid him an extra 4 million euros for winning the Ballon D’Or in 2016 and again in 2017, the fifth time he’s been named world player of the year. Ronaldo’s decade-long rivalry with Barcelona star Leo Messi — also with five world player titles — extends off the field. Ronaldo has endorsed Nike sportswear since his Manchester United days, while Messi is one of the biggest names at Adidas AG.
Nike and Adidas have been fighting for decades for market leadership, translating into ever higher sponsorship deals for global athletes. Nike’s stable includes Tiger Woods, Naomi Osaka and Colin Kaepernick.
Polaris Sports, based in Dublin, is named in the draft as Nike’s contractual partner, Spiegel reported. Polaris and Nike declined to comment to the publication.