Global sportswear and equipment giant Adidas has inked a spectacular sponsorship deal with soccer's worldwide governing body FIFA (Fédération Internationale de Football Association).

The record deal, worth $350 million (€268m, £186m) over seven years starting 2007, will include the rights to supply equipment to the World Cup tournaments in 2010 and 2014, and extends Adidas' 35-year asscociation with FIFA.

The German-headquartered firm will also have rights to joint marketing programs, internet promotion and TV advertising.

The bidding for the contract has been in progress for five months, the first time it has been open to competition. It is not known how many runners took part in the race, nor if Adidas' main rival, US-based Nike, was among them.

Gushes Adidas ceo Herbert Hainer: "Over the last thirty-five years, Adidas and FIFA have proven to be a winning team. We share a history and we share a passion: the passion for football."

He expects the deal to strengthen the company's position in the world soccer sportswear market. The company claims it has a 35% market share, compared with about 30% for Nike.

Data sourced from BrandRepublic (UK); additional content by WARC staff