Athletes hoping to topple Cristiano Ronaldo as Forbes’ richest athlete are going to have to work a whole lot harder. On Tuesday, Ronaldo appeared to cement his spot at the top when he signed a massive new deal with Nike that will reportedly yield him roughly $24 million per year for the duration of his life, Portugal’s Diario de Noticias reports. In total, this means Ronaldo could stand to make upward of $1 billion from the athletic-wear company.
“I have to say that Nike is the best, for me,” said the 31-year-old in a video released over the weekend.
LeBron James is the only other athlete rumored to have a lifetime contract with Nike. James signed the deal in December, according to ESPN’s Darren Rovell.
Ronaldo’s new Nike contract follows a five-year extension he signed with Real Madrid on Monday, which will reportedly keep his weekly wage at roughly $450,000 per week until June 2021, according to the Daily Mail.
“I’m overjoyed,” the Portuguese national said (via Goal.com) of his extension, which he described as his “penultimate contract.”
“I want to be here for many years to come,” he added.
Ronaldo surpassed boxer Floyd Mayweather Jr. this year as the richest athlete on the Forbes list. He is only the second team athlete to ever rank at the top since Forbes began its list in 1990. Michael Jordan was the first.