PARIS, Feb. 22, 2008 (Thomson Financial delivered by Newstex) -- The French football federation (FFF) said it has chosen Nike (NYSE:NKE) Inc. to supply the kit for the French national team for the 2011-18 period in a deal worth 320 mln eur.
Nike won the contract in the face of rival offers from French firm Airness and its main rival Adidas AG (OOTC:ADDYY) , which is the current supplier of the French team's kit.
The FFF said Nike made the best financial offer and exceeded the minimum price set by the football authorities.Nike is to pay an average of 42.66 mln eur per season, with the contract covering seven-and-a-half seasons from Jan 2011 until the end of the 2017-18 season.
In addition, the US group is to provide 2.5 mln eur worth of equipment per season and unspecified bonuses linked to the performances of the French team at the World Cup and European Championship.Under the existing contract for 2004-2010, Adidas pays 10 mln eur per season. The German group has been the French team's kit supplier since 1972.
Nike's investment in the French team also far exceeds the approximately 13 mln eur per season it currently pays to supply Brazil's national kit.
Source : CNNmoney.com
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