In the next few hours Nike are expected to announce the renewal of their sponsorship arrangement with Cristiano Ronaldo. The Real Madrid star will sign a contract similar to the one Michael Jordan signed in the mid 80s. While the exact figures are not known, it is believed that Cristiano will earn more or less the same from the sponsorship deal as his salary at Real Madrid, around 24 million euros.
For the sportswear brand, Cristiano is a strategic figure in their marketing campaigns because apart from his performances on the pitch, the Portuguese forward also has millions of followers worldwide on his social media accounts.
The renewal of the sponsorship deal with Nike comes just one day after Cristiano signed a three-year contract extension with Real Madrid. Curiously, Madrid's main sponsors are Adidas.