The Nigeria Football Football Federation has revealed that it would earn $3.75m (743m Naira) during its three-and-half-year partnership with Nike and a $500,000 (99m Naira) bonus if the Super Eagles qualify for the 2018 World Cup in Russia among other perks.
The contract is worth $750, 000 (148m Naira) in its first year and would rise to $1million (198m Naira) each year from 2016 till 2018.
After ending its previous 700,000 Euros-a-year contract (150m Naira) with German giants Adidas in December, the NFF has opted to go with Nike in a three-and-half-year deal which will see the American sportswear company supply kits from April 1, 2015, until at least 2018.
The country has now joined Nike’s portfolio of federation sponsorships which include Australia, Brazil, England, France, the Netherlands, Portugal, South Africa, South Korea and the U.S. among others.
NFF president Amaju Pinnick told the federation's website: “We are comfortable with the contract, because NIKE came across during the negotiations as being fluid and ready to listen to our demands. That is always the key aspect; you always need a partner with a listening ear."
“Nigeria football is happy to associate with a global leader and I am much convinced this is just the beginning. As we go along, NIKE may also be willing to partner with some of our domestic clubs and even the League Management Company," he concluded.
Nike will design performance and training apparel, and equipment, including team kits and footballs, for the Nigerian national football team players at every level of the game.
There will be an exclusive-edition team kit for all NFF teams until the 2016-17 kit launches in mid-2016. In addition, Nike will design an assortment of products for Nigerians to show their support for the national team, to be available from mid-2016.
The NFF said the contract reached at The Soho Hotel, Richmond Mews, London last Thursday will improve in value to $1 million in the second year that is from 2016/17.
Aside, the year-by-year improved financial earnings, the NFF disclosed that various national teams will earn bonuses should they make it to any major international championships. While the Super Eagles could rake up to $500,000 if they qualify for the 2018 FIFA World Cup finals in Russia.
The Nigeria U20 team will be the first national side to don the new Nike kit at the 2015 Fifa U20 World Cup scheduled to hold in New Zealand from May 31.