American multinational sportswear company, has signed a contract extension with Spanish soccer giants, FC Barcelona.
The new deal, which is for the next 10-years is worth more than $175 million annually, surpassing rivals Real Madrid’s sponsorship deal and the highest paid among all professional soccer clubs.
“FC Barcelona is one of football’s greatest clubs, inspiring millions of sports fans across the globe, and we are extremely proud to continue our partnership together,” Nike President Trevor Edwards said.
Our deep relationship with FC Barcelona extends Nike’s leadership position in football and we are excited by the opportunity to further grow the world’s most global sport.”
Barcelona president Josep Maria Bartomeu also expressed his satisfaction of the deal stating, “We are excited by this new agreement and are confident we will be able to celebrate continued sporting successes together.”
The Camp Nou club were recently rated the second-most valuable soccer team in the world ranking only behind Spanish rival Real Madrid with an overall value of $3.56 billion, with this new deal, the Catalans are likely to move further above soccer teams such as Manchester United, Arsenal and Manchester City.
Professional American football team, the Dallas Cowboys are currently ranked no. 1 as the highest worth among all professional sports teams at $4 billion.