Barcelona U-turn on decision to split from Nike & as they announce hugely lucrative new kit deal contract with sportswear giant

After increasing speculation that Barcelona and Nike would end their relationship in 2028, when their current agreement expires, the club, on Saturday, announced that steps have now been taken to tie the two world-renowned corporations together for the next decade-and-a-half.

The official statement from the club read, "FC Barcelona and Nike, two leading brands in the sport industry, are pleased to announce a new start with a multi-year partnership agreement, starting effective this season, that brings a new collaborative strategic partnership model between the two organizations. This new partnership consolidates Nike as a Main Partner of the Club and Official Technical Partner across all professional and amateur teams, bringing a unique model that strengthens the brands association and fuels the global retail and licensing business growth. Nike has a key strategic role in the Club’s Retail Operations and together with Barça Licensing & Merchandising will join forces in the development of specific plans related to product creation, supply chain and global distribution.

"FC Barcelona and Nike signed their first sponsorship agreement in 1998 and together they have shared a deep commitment to innovation, creativity, and the pursuit of excellence, both on and off the pitch and experience extraordinary football in four different decades in which the Club has won 4 Champions Leagues, 12 league titles, 7 Copas del Rey, 3 World Club Cups, 3 European Super Cups amongst others. For their part, the Barça Women’s team have consolidated their position as a leader in women’s football, winning 9 league titles, 3 Champions Leagues and 9 Copas de la Reina in this span. In the Club’s four other professional teams, Barça has won 58 leagues, 25 European Cups, 47 Copas del Rey amongst others."

Barcelona and Nike have been in partnership since 2000, in one of the longest club-kit manufacturer relationships in Europe's top five leagues. However, their relationship has not always been harmonious, and reports in March of this year stated that Barca president Joan Laporta had "terminated" the deal with the American sportswear giant.

However, according to Mundo Deportivo, Nike responded with a number of compromises that were enough to keep the contract intact, and have now negotiated their way to a hugely valuable, long-term contract.

The reported contract includes a €158 million (£131m/$169m) signing bonus for Barcelona, which will be paid over the course of the 14-year agreement. The Catalan club are also set to make an extra €127m (£105m/$136m) on average per year from the agreement, adding up to around €1.7 billion (£1.4bn/$1.8bn) over the course of the contract.

This new agreement has been reached after Barcelona were granted permission by Nike to go to market and assess their options. Puma made their interest concrete, submitting an official and binding offer. However, the Blaugrana forwarded the bid to Nike, and the response was a matching offer - removing the need to change manufacturer and avoiding the upheaval this would cause.

Barcelona visit Real Sociedad on Sunday evening, in a game that could see them move 12 points clear at the top of La Liga, should rivals Real Madrid lose to Osasuna on Saturday.

The Catalan giants have been thriving under German manager Hansi Flick, who has introduced a number of La Masia academy products to the first team this season, losing just two games in all competitions.