Barcelona, Nike announce new sponsorship agreement

Spanish champion FC Barcelona have extended their sponsorship deal with sportswear manufacturer Nike to make the club one of the best paid in the history of football.

Although the exact details of the agreement will be ratified at the next Barcelona General Assembly, the new agreement is thought to be worth around 155 million euros (around $190 million) per season, reports Xinhua.

This is almost three times what Barcelona earned from their accord with Nike last season and will give the club an important boost in spending power.

The Barcelona website describes the new contract as "a landmark in global football," while Barcelona president Josep Maria Bartomeu also expressed his satisfaction at the accord.

"Through this new agreement with NIKE we are extending a strategic alliance for the Club, while also reinforcing our global position, hand in hand with the leading global sports brand," he said on Saturday.

"We are excited by this new agreement and are confident that we'll be able to celebrate continued sporting successes together."

Meanwhile Nike brand president, Trevor Edwards said that Barcelona was "one of football's greatest clubs, inspiring millions of sports fans across the globe, and we are extremely proud to continue our partnership together".

--IANS

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