adidas and Real Madrid just announced an extension to their long-standing partnership that's reported to be the most lucrative kit deal of all time.

The new contract will see adidas continue to be Real's technical partner until 2028, which will mark 30 years since the Three Stripes first produced Los Blancos' iconic white strip. The extension is worth a reported €1.1 billion, with the club picking up as much as €152 million each year – well ahead of their rivals Barcelona, who pocket €85m per year from Nike.

Together, adidas and Real Madrid have combined on some of the most iconic kits in recent memory with their designs worn by icons like Ronaldo, Zinedine Zidane and David Beckham. Since their partnership began, Real Madrid won six UEFA Champions League titles, six FIFA World Club Championships, four UEFA Super Cups, six Spanish Championships, five Spanish Super Cups, and two King’s Cups.

Kasper Rorsted, CEO of adidas, commented: "Without any doubt, Real Madrid is one of the best sport franchises world-wide. We are delighted that we can continue our great collaboration for the years to come. This agreement will help us to achieve our mission to be the best sports company in the world."

While the value of the deal is widely reported, the official announcement revealed that both parties have agreed to keep the official terms of agreement private.