Cristiano Ronaldo Extends Nike Sponsorship After Signing Real Madrid Contract

Just a day after putting pen to paper on a new five-year Real Madrid contract, Cristiano Ronaldo has signed a new long-term sponsorship deal with Nike, which he suggested was "for life."

The sportswear brand announced the deal on their official website on Nov. 8 and released the following video to accompany it:

Ronaldo said: "I have a great relationship with this brand, I have great friends here in the company. We work as a family too. This is my brand."

According to Fox Sports' Aaron West, while the statement does not reveal the details of the sponsorship deal, "it's thought to be along the lines of LeBron James' deal, which is reportedly worth over $1 billion."

Sky Sports' Kaveh Solhekol had also reported on the value of his new contract:

The 31-year-old has recently been promoting the brand's new "Mercurial Superfly" boots on social media:

On Friday, Forbes' Kurt Badenhausen wrote that "Hookit found that Ronaldo’s massive social media presence generated a staggering $474 million in value for Nike this year via 329 posts across Facebook, Instagram and Twitter."

The deal marks a good week for the Portugal captain, who revealed his desire to play for another decade after signing his new contract with Los Blancos:

Real's star forward signed with Nike in 2003 prior to joining Manchester United and has had a relationship with the company ever since.

In September, it was revealed Ronaldo is the second-most followed person on social media in the world behind only pop star Taylor Swift, making him the most followed athlete.