German sportswear giant Adidas said on Thursday that it will extend its long-standing sponsorship agreement with the FIFA World Cup tournament until 2030.
"Today, FIFA and Adidas formally announced an extension of their long-term partnership agreement granting Adidas the official partner, supplier and licensee rights for the FIFA World Cup and all FIFA events until 2030)," the German company announced in a statement.
Financial details were not disclosed and, when contacted by AFP, an Adidas spokesman declined to divulge the sum of money involved.
"Football is very important for Adidas. We're the leading brand and we want to remain the leading brand," he said.
The 2018 World Cup will take place in Russia and the announcement was made at a ceremony in Moscow.
FIFA and Adidas have been partners since 1970.
"This strategic commitment to the FIFA World Cup ensures extensive Adidas presence at the world's most watched sports event until 2030," Adidas said.
"Without the support of long-term partners such as Adidas, it would simply not be possible for FIFA to host global spectacles such as the FIFA World Cup and to continue our work to develop football worldwide," said FIFA marketing director Thierry Weil.
"Adidas is an integral part of the FIFA World Cup story, quite literally featuring at the heart of the action at every tournament since the 1970 FIFA World Cup," Weil said.