The figure puts Bolt on par with deals signed by some of the world's footballers like Cristiano Ronaldo and Lionel Messi.

"The figure is by far the largest ever given to a track and field athlete, positioning Bolt as a top earner in the world of sport, a further acknowledgement of his astonishing achievements over the past two years," said  Jochen Zeitz, Puma's chief executive.

"It's good, man. I'm happy," Bolt said of his new deal.

"I'm very happy with the figure."

Last year Anza Marketing Group Inc (AMG) claimed that they had negotiated a $100 million (£61 million) kit deal for Bolt with an unnamed Chinese company.

The deal was swiftly denied by Bolt's management and nothing ever came of it.

Zeitz said Puma intends to make Bolt a centerpiece in its Olympic marketing programme and use him to help develop footwear and other apparel.

The deal cements Puma's relationship with Jamaican sport. 

They also sponsor the Jamaican Olympic Association and the Jamaican Amateur Athletic Association.

The German company first signed with Bolt in 2003 when he was just 16-years-old.

"We've been together since forever," said Bolt, who turned 24 last Saturday (August 21).

The highest paid female athlete in the world is Russian pole-vaulter Yelena Isinbayeva, who was signed by Chinese sporting goods company Li Ning to a deal worth about $1.5 million (£912,000) last year.

Contact the writer of this story at [email protected]


Related stories
September 2009: Bolt $100 million offer dismissed