Nike reached an agreement with the German Football Federation (DFB) to become your technical supplier from the 2027 season.
The agreement between the parties will last until 2034 and supposes that the DFB breaks its relationship with Adidas after more than seventy years together. According to Bernd Neuendorf, president of the Federation, the agreement with Nike will allow the Federation to “complete the central functions with a view to a comprehensive development of football in Germany in the next decade.”
Although the amount of the operation has not been disclosed, several sources suggest that Nike offered a figure close to €100 million a yearan amount that Adidas was not willing to match, after registering losses in 2023, the first time in thirty years.
The German fashion and sports equipment company reduced its turnover, and thus also reduced losses in the last financial year (period ended December 31), according to the final results published on March 13 by the company.
Specifically, the company’s sales for the year were €4,812 million, 8% less than the previous fiscal year. For its part, The company’s red numbers stood at €359 million, compared to €513 million in 2022.
nike, which currently has about 83,700 employees globally, will cut its global workforce by approximately 2%, as part of its cost-cutting strategy to counter a lower sales outlook and increasing competition.
The Oregon giant closed the second quarter of fiscal 2023, ended November 30, with an increase in sales of only 1%, after growing 2% in the first quarter. Nike had a turnover of US$13,388 million, compared to US$13,315 million in the same period of the previous year.
After the agreement with the German National Team, Nike adds one of the main national teams to its portfolio, which includes the National Teams of Portugal, the Netherlands, France and Brazil, among others.
The news comes at a time of maximum bidding between Nike and other sports equipment brands to maintain the Barcelona clothing. The Spanish club is studying changing its technical sponsor, breaking the relationship with Nike, which dates back to 1998, and welcoming Puma, according to several sources.
Source: Ambito
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