Sprint sensation Usain Bolt has inked a renewed endorsement deal with PUMA that is to go beyond the 2016 Olympic Games in Rio, Brazil, according to a release from the sports goods manufacturer Tuesday.
This week, Puma (PUM:GR) reupped its contract with Usain Bolt for an undisclosed sum, although the U.K.’s Daily Telegraph puts the terms of the new deal in the stratosphere, at least for a track-and-field athlete: $10 million a year through 2016, an “extra $10 million” if Bolt competes in the world championships in London in 2017, and an additional $4 million annual salary to serve as a “Puma ambassador” on retirement.
The deal follows the sprinter’s announcement on Sept. 4 that he will retire after the 2016 games, though he has since intimated that he might not hang up the spikes quite so soon—perhaps an extra $10 million changed his mind.
“PUMA has been with me since the very beginning. They recognised my talent at an early age and have supported me throughout, especially in the early years when I had some difficult times due to injuries,” Bolt is quoted as saying in the release.
“Their work and commitment to Jamaica is also very important to me. I have always been very happy to be a part of the PUMA family. I am proud to represent them and delighted to continue with them for the years ahead.”
Describing Bolt as the “perfect ambassador”, Bjoern Gulden, CEO for PUMA, said that Bolt will play a crucial role in the future product concepts of PUMA as well as brand communications leading towards the Olympic Games in Rio 2016 and beyond.
The release did not mention the specifics of the endorsement or any indication regarding plans for Bolt beyond the 2016 Rio Olympics.
However, Bolt recently hinting at retiring after the 2016 Olympics, has backtracked and may continue breaking records for some time to come.