Adidas has extended its partnership with River Plate with the most expensive kit deal in Argentinian football history.
The agreement extends the relationship between the two until 2021 in a deal worth $60m, or $10m per season.
The German sports brand’s record investment surpasses that of rival Nike who supply the kits for River Plate’s cross-city rivals Boca Juniors, reported to be worth $8m annually.
In 2012, Adidas failed in its attempts to strike a kit deal with Boca Juniors when the club renewed the partnership it has had with Nike since the 90s until 2019.
The sponsorship extension coincides with River Plate's recent return to winning ways on the pitch after it was relegated to Argentina’s second tier for the first time their history in 2011. Since then fortunes have changed; the club clinched the league championship in 2014 and they are currently scheduled to compete in the FIFA World Club Cup in Japan next month.
While the deal has set new records in Argentina, it pales in comparison to those which Adidas has made elsewhere. This year the company took over as kit supplier for Manchester United from Nike with a $1.2bn (£750m) 10 year deal that has become the fastest value generating football kit launch campaign ever after it made $2.3m in social media value alone.