Nike (NYSE:NKE) Signs Lifetime Deal With Cristiano Ronaldo

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The Beaverton, Oregon-based multinational corporation Nike Inc. (NYSE:NKE) has signed a long-term “lifetime” deal with football player Cristiano Ronaldo. This makes the Portuguese star the third athlete to sign a lifetime deal with the business, after NBA legends LeBron James and Michael Jordan. Ronaldo is also the first athlete from another sport other than basketball to sign such a deal.

The deal was signed on Tuesday. Earlier, last Sunday, Ronaldo re-signed his contract to keep playing with the Spanish football club Real Madrid till 2021. His agreement was extended by another five years. That too is expected to net him millions.

Cristiano Ronaldo Net Worth

Cristiano Ronaldo’s net worth is estimated to be $280 million. His base salary is $45 million. Plus, Ronaldo also makes millions more every year from endorsements and modeling assignments. With this latest endorsement from Nike, the Portuguese star is expected to fatten up his bank account considerably.

Forbes has ranked him as the world’s highest paid athlete in 2016. With the new signings with Nike and his club Real Madrid, Ronaldo will secure his position firmly at the top of this coveted list.

Ronaldo Could Be Earning More Than A Billion

However, Nike or Ronaldo did not disclose how much he will be getting. But, Nike is expected to keep paying him even after he retires, as it is a “lifetime” endorsement. According to rumors, though, the Nike deal is expected to be worth more than 1 billion.

The business has been paying Michael Jordan $473 million since 1993, though the basketball player retired in 2003. The endorsement amount of Ronaldo is likely to be more than that. Nike has been sponsoring Ronaldo since 2003. He has been seen wearing more than 60 variations of Mercurial soccer cleats of the company.

Ronaldo was happy after the Nike (NYSE:NKE) signing. In a video, he said, “I look at this new contract as something for life”.

Cristiano Ronaldo dos Santos Aveiro is the captain of the Portuguese football team that won the Euro Cup this July beating France in the final. He has played 135 games for the country, scoring 66 goals, with several more assists. Ronaldo has been playing with Real Madrid in the La Liga since 2009. He has appeared in 244 games for his club and has scored 265 goals. With Eusébio and Luís Figo, Ronaldo is among the most famous players of his country, and with Messi the best of our times.