In a formal announcement distributed to journalists and shared on social media, FC Barcelona revealed its new sponsorship agreement with Nike, the football team’s highest-paid clothing provider.
“With effect from this season, FC Barcelona and Nike, two of the biggest names in the sports industry, are happy to announce the beginning of a new multi-year partnership agreement that brings a new model of strategic partnership of collaboration between the two organisations,” the Catalan club began in its letter.
“With this new collaboration, Nike solidifies its position as the Club’s primary partner and the official technical partner of all professional and amateur teams, offering a distinctive model that fortifies brand partnerships and propels the expansion of the worldwide retail and licensing industry.
Nike has a significant strategic role in the Club’s retail operations, and it will collaborate with Barça Licensing & Merchandising to create targeted plans for product development, supply chain management, and international distribution,” the statement continued.
According to Barca, the two sides have “lived most of four decades of extraordinary football” since signing their first contract in 1998. They have “shared a deep commitment to innovation, creativity, and the pursuit of excellence both on and off the pitch.”
Barca listed their numerous achievements, including 12 La Liga titles, three Club World Cups, three European Super Cups and four Champions League titles in male football since then.
The club did not provide any numbers, but according to Mundo Deportivo and other publications like Culemania, Barca will get $1.82 billion (€1.7 billion) from Nike over the course of 14 seasons, or about $129.5 million (€121 million) annually on average.
According to reports, the arrangement will be enhanced by about $51.4 million (€48 million) annually between 2024 and 2028. Then, after 2028, an additional $62 million (€58 million) to $64 million (€60 million) year.
The agreement is thought to be the highest-paid sponsorship contract in football history, regardless of how the funds are allocated.
Culemania director Victor Malo clarified that although the arrangement wasn’t anticipated to be finalised until the following week, everything “sped up” on Thursday night, prompting President Joan Laporta to call an emergency board meeting on Friday to approve the transaction.
Although the club openly acknowledged it on Saturday, it is not thought that a Nike financial infusion will be sufficient to resolve Financial Fair Play (FFP) concerns pertaining to summer acquisitions Dani Olmo and Pau Victor.