Adidas Bets $700 Million That People in the U.S. Will Finally Care About Soccer

The German athletic retailer has extended its partnership with Major League Soccer.
By Giovanni Bruno ,

Adidas (ADDYY) is extending its eight-year 2010 partnership with Major League Soccer with an additional six years for $700 million.

The move illustrates the faith Adidas has in the MLS to grow in popularity and develop into a major American sports league.

The MLS is "the most compelling pro league to be a part of," Adidas U.S. CEO Mark King said. "If it was a typical league deal, where you only get to put your logo on the jersey, I think we'd still be interested because soccer is our core sport around the world, but it really becomes interesting when you look at all the programs that help build the sport."

King projects that within 10 years soccer will be the biggest American sport, in terms of youth participation. "And if kids who play soccer continue to be fans of the sport, then yeah, if you're talking 20 to 30 years from now, I think MLS can be as big as NFL."

MLS commissioner Don Garber told Yahoo Finance the extension is "a strong statement regarding where MLS is today and how we are poised and energized for the future."

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