Football boot brand Nike has announced that it will be replacing Adidas as sponsor of the French football team.

As of January 1 2011, Nike will become equipment supplier of the French Football Federation (FFF) until the end of the 2017-2018 season. The deal is thought to be worth 42.7 million euros a season, with performance related payments based on Les Bleus progress in the 2014 and 2018 World Cups.

Adidas has held a 37 year relationship with the FFF and currently pays 10 million euros a season for the right to supply the football kit to the French team. Nike’s offer far exceeds the 13 million euros per season it currently pays as sponsor of the Brazil national team and reinforces the US based football boot brand’s desire to become the leading football brand by 2010.

“We’re very excited to partner with the French team, one of the world’s premier teams with a rich heritage and outstanding record on the global and European stage. We’re committed to supporting and advancing French football at all levels from the national squad to youth football,” said Charles Denson, President of the Nike brand. “It’s a great day for Nike football and a perfect match for our brand. This partnership will solidify Nike’s leadership in football, as we continue delivering industry leading innovations on the pitch and create competitive distance with our next phase of growth.”

“We are pleased to be the FFF’s future partner in our mutual quest to be the best,” said Fabrice Ducceschi, General Manager of Nike France. “This is the next exciting stage of our brand’s overall strategy in France, already the sports equipment market leader. This new agreement will be instrumental in further deepening our emotional connection to French supporters of football and their national team.”

Since the early 1990s, Nike has grown its football revenues from about $40 million to approximately $1.5 billion and established global brand leadership in the sport. Football is one of six core categories expected to drive 75 percent of Nike’s targeted growth by fiscal 2011.