Spanish champions Barcelona have agreed on a lucrative long-term contract with American kit manufacturers, Nike. The agreement will see them pocket around £140m a season from 2018.
It is a five-year agreement and there will be an option to renew for another five years in 2023. The contract with Nike now puts Barcelona in the number one position in terms of sponsorship in the footballing world.
Club vice-president Manuel Arroyo confirmed the agreement during a general meeting yesterday. Arroyo also revealed the financial details of the deal. The agreement is hardly a surprise as the Catalans confirmed a few months ago that they will continue their partnership with Nike which began 18 years ago.
Nike’s extension will be an added help to Barcelona’s goal of breaking through the 1 billion Euros revenue mark within the next five years. Last season Barcelona posted a record turnover of £612m.
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Barcelona also announced their budget of £626m for this season and a wage budget of £353m.
The other good news is that club president Josep Maria Bartomeu has also confirmed that the club are working on renewing the contracts of star forwards Luis Suarez and Lionel Messi.