Cristiano Ronaldo Signs Nike Deal Worth Reported $26.5M A Year

Nike announced the renewal of its sponsorship arrangement with Cristiano Ronaldo, according to AS. He will sign a contract similar to the one former NBA player Michael Jordan signed in the mid-'80s. While "the exact figures are not known," it is believed Ronaldo will "earn more or less the same from the sponsorship deal as his salary at Real Madrid," around €24M ($26.5M). For Nike, Ronaldo is a "strategic figure" in its marketing campaigns because he has millions of followers worldwide on his social media accounts. The renewal of the sponsorship deal with Nike comes "just one day after" Ronaldo signed a three-year contract extension with Real Madrid (AS, 11/8). In London, Hamish Mackay reported Ronaldo said of his deal, "I look at this new contract as [being] for life. I'm a member of the family but I have to say that Nike is the best, for me and my opinion. They do things that no one [else] can do. I have a great relationship with this brand with great friends here in the company, specific people who work with me" (DAILY MIRROR, 11/8). FOX SPORTS' Aaron West reported Nike issued a press release announcing the new deal, saying, "The successful partnership between Nike and Ronaldo will continue well into the future with a new, long-term contract." Ronaldo released a video with the news, "waxing poetic about the brand," and saying that his new deal is "for life." The details of Ronaldo's new Nike contract "are unconfirmed," but it is thought to be "along the lines" of LeBron James' deal, which is reportedly worth over $1B (FOX SPORTS, 11/8).