Usain Bolt inks new Puma contract for $10M per year through 2016

Six-time gold medalist Usain Bolt renewed his contract with Puma for $10 million per year through the 2016 Olympics in Rio. (Robert Marquardt/Getty Images)

Six-time gold medalist Usain Bolt renewed his contract with Puma for $10 million per year through the 2016 Olympics in Rio. (Robert Marquardt/Getty Images)

Sprinting superstar Usain Bolt is renewing his contract with Puma to the tune of $10 million per year through the 2016 Olympics in Rio de Janeiro.

The six-time gold medalist will be paid for each of the next three seasons and will receive another $10 million if he competes in 2017, when London hosts the world championships, according to a report Tuesday from Reuters. Once he retires, he will be paid $4 million per year to act as a Puma ambassador. His current deal with Puma pays him approximately $9 million per year and expires at the end of 2013.

SI Archive: Classic photos of Usain Bolt

According to the Associated Press, Bolt said in a statement released by Puma that they "recognized 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."

His renewal with Puma comes approximately a week after the 27-year-old made headlines for saying that he is "definitely reconsidering" his initial decision to retire after the '16 Olympics, citing overwhelming support that he has received from fans and sponsors to continue running beyond the Games in Rio. He had also said that he's thinking about running in the 2014 Commonwealth Games in Glasgow, but the 2020 Olympics in Tokyo are not something he’s considering at this point, in part because, he said, if he wins gold in Rio, he will have done everything he envisioned for his career.