Spanish Club Barcelona Sign Sponsorship Deal Worth €150m With Nike
Spanish club side, Barcelona has sealed a whooping €150m sponsorship contract with American sports wear manufactures Nike.
The deal will see Barcelona earn no less than €150 million a season from 2018.
The initial deal, which squashes records previously set by English side, Manchester United’s £750 million (€835 million) 10-year deal with Adidas.
Barca’s extended deal with Nike will run until 2023 when the Catalan side’s board members will then have the chance to vote in favour of a further 5-year extension.
Speaking at the club’s annual general meeting on Saturday, club vice-president, Manuel Arroyo said:
“It is a figure which puts us number one in the world for sponsorship in the sports industry.
“The fixed rare of the contract increases 48 percent and the royalties also increase.
“From this season (2018-19), the total turnover of the deal will be around 155 million euros.”
In May this year, Barcelona had confirmed that they had reached a deal to continue their partnership with Nike.
Barcelona Sign Sponsorship Deal With Sporting Giant Nike
Barca’s partnership with Nike began in 1998.
With this new sponsorship deal, Barcelona’s aim to be the first football club to break the €1 billion revenue barrier by 2021 looks very feasible.
The Spanish champions surpassed arch rivals, Real Madrid with a record turnover of €679 million last season.
barcelona Board Members on Saturday also passed a budget of 695 million euros for this season.
The board voted a massive €392 million to be spent on sporting salaries.
According to reports, that figure is likely to rise as club president Josep Maria Bartomeu said the club are working on renewing the contracts of star forwards Luis Suarez and Lionel Messi after Neymar recently extended his deal to 2021.
“These strikers are spectacular. Believe that our principal objective is that they all stay here.
“Neymar has renewed and now we are trying so that Suarez stays here for many years to come and then we will speak with Messi of course.
“He is the catalyst, the one that makes everything else function.”