FC Barcelona announced on Saturday the signing of a new agreement with the American sportswear company Nike, which could be worth up to 1.7 billion euros ($1.82 billion) until 2038, according to Spanish reports.
Nike has been the official partner in the manufacture of the Catalan club’s clothing and sports supplies since 1998, and the previous contract was to end in 2028.
A statement issued by the club said: “Barcelona and Nike, two leading brands in the sports industry, are pleased to announce a new beginning through a multi-year partnership agreement, effective starting this season.”
The Spanish club did not reveal the duration of the new agreement or its financial value.
Barcelona had tried to terminate its previous contract with Nike earlier this year, but a Spanish commercial court prevented that last July.
It is noteworthy that Barcelona has been facing financial challenges for several seasons, as in 2022 it was forced to sell 25% of its television broadcasting rights for 25 years to the American private investment company “Sixth Street”.
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