Barcelona 'very close' to lucrative Nike agreement | OneFootball

Barcelona are described as "very close" to announcing a new and improved deal with long-term kit partner Nike that will boost the club's ongoing troubled financial situation.

The Catalan giants have remained stuck on 1:4 spending under La Liga rules, which has seen them able to invest just a fraction of any money raised or saved. Their player budget in recent years has been repeatedly slashed, leading to regular turnover and issues registering new signings.

Barca officials have had to find more ways to bring in revenue, from cashing in on the naming right to Camp Nou, to selling off stakes in the club's multimedia arm.

Kit partnerships are typically one of the most lucrative income streams for Europe's mega-clubs.

Mundo Deportivo reports that a new agreement with Nike is "verbally closed". As such, it is awaiting a "formal signing ceremony" expected to happen after the Assembly of Delegates on 19 October. But the deal is set to be approved by the board at an extraordinary meeting on Monday. That was originally delayed from last Thursday while the 2023/24 accounts were being audited.

The terms of the deal will extend the partnership beyond its existing expiry in 2028. It is said to be worth "far" in excess of €100m (£83.5m) annually and could therefore rival the €118m (£98.6m) Real Madrid are paid each year by adidas. Barca would also get a "renewal bonus" that the club hopes will push them back into 1:1 spending rules by the time of the January transfer window. Returning to 1:1 has been reported several times since last season, so sceptics may need to see it to believe it.

Not willing to waste time, the new figures are "already included in the budget" for this season.

Barcelona took Nike to court earlier this year / AFP7/GettyImages

But renewing with Nike comes as something of a surprise following recent months and president Joan Laporta's criticism of the sportswear firm. “The relationship is not ideal. Nike is not fulfilling the terms of the contract,” he said on the issue of stock levels. “We’ve shown our teeth to Nike.”

In March, he declared: "We've told Nike that, due to flagrant breaches, we will end the contract."

After that, Barca took Nike to court in a bid to end their existing contract four years early but lost the case and were forced to honour the deal.

They have publicly flirted with rival suppliers Puma, as well as Hummel amid the cult Danish brand continuing to grow its presence in Spanish football. There was even a suggestion that the club could design and manufacture their own kits, which is not a common path but also not unheard of.

Nike have supplied Barcelona kits continuously since 1998, with Pep Guardiola, Rivaldo, Luis Figo, Luis Enrique, Patrick Kluivert and the De Boer twins among the first players to wear them.