Real Madrid talisman Cristiano Ronaldo is set to sign a world-record sponsorship deal with Nike, according to reports by Spanish daily Marca.
The sports giants are offering Ronaldo a whopping €6 million per year until 2014, which adds up to €24m over the next four years. This would make Ronaldo go down in history as the world's best paid football player in terms of sponsorship deals.
The star winger had a previous contract for €4 million per season, but Nike are reported to have offered a new deal to fend off interest for their bitter German rivals, Adidas.
He was in London this afternoon promoting Nike's new football boot, the Mercurial Superfly Vapor II.
Ronaldo is already the world's highest paid football player, as he pockets an astonishing €13 million in wages per season, after tax, at Real Madrid.
Aside from Nike, Ronaldo is the new face of Italian fashion giants Giorgio Armani alongside Hollywood actress Megan Fox.
He is also a Global Ambassador for lubricant giants Castrol and does advertisements for Clear Shampoo.
Real Madrid spent €250 million on new 'Galacticos' last summer, but reported operating revenues of over €450 million later that year, making them the richest club in the world in that aspect.
The economic model pursued by club president Florentino Perez continues to reap huge financial benefits for the capital side, as Real Madrid own roughly 50% of Ronaldo's image rights.