By Rick Pearcey
"In a move that has provoked sporting, emotional and commercial angst, Adidas, the Bavarian company that has shod the national team for 50 years, has been outbid massively for the privilege by Nike," reports Timesonline.
"The Oregon-based company has offered the German Football Federation €500 million (£331 million) to be the national squad’s boot and kit supplier for eight years from 2011. The football establishment has never seen such largesse before: there is an additional €50 million signature fee and a similar amount for the women’s team."
This deal, according to this currency converter, amounts in U.S. currency to approximately $781,000,000 (amount fluctuates with alterations in the exchange rate).
1) Basic Deal: €500 million ($651,499,748 US)
2) Signing Fee: €50 million ($65,149,974 US)
3) Similar Amount for Women's Team: €50 million ($65,149,974 US)
Total Cost: $781,799,692 US.
German National Team website
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Rick Pearcey is editor and publisher of The Pearcey Report.
Thursday, February 1, 2007
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