Nike snares France contract from adidas with megadeal

[BUSINESS] After almost 40 years, the French national team will be leaving adidas for Nike.

The value of the deal to supply French soccer federation teams with Nike apparel is more than four times the current adidas deal and is believed to be more than three times the value of the most lucrative deal in international soccer, Nike's agreement with Brazil.

Nike has won the contract France, beginning in 2011 and for the next seven a half years for $474 million, or approximately $64 million a year.

Other bidders were Adidas, which first supplied the Bleus in 1972, and Airness, a small French company, to win bid.

"It's the financial aspect that made the difference," FFF president Jean-Pierre Escalettes said. "I had neither the moral nor legal capacity to take any other decision."

Under its current agreement with the FFF, adidas was paying approximately $15 million a year.

The Nike-FFF deal far exceeds the reported value of deals Nike has with Brazil and Puma has with Italy -- approximately $20 million a year.

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