Nike show Barca the money

Sportswear giant Nike have signed a new sponsorship agreement with Spanish side Barcelona which will see them invest a minimum of 150 million euros over a five year period ending in 2013.

    One expensive jersey: The Barcelona strip is set to rake to the cash

    The agreement could be extended by a further five years after that the Catalan club said on its website.
      
    The new agreement doubles Nike's financial involvement in Barcelona from the 15 million euros a year previously equalling what the company invests in English giants Manchester United.
      
    On top of the minimum investment, will come bonuses and royalties based on results on the pitch and the sales of Barcelona team shirts which could lift the annual figure to 45 million euros.
      
    Barcelona, whose annual budget tops 300 million euros, in June sold television coverage rights of its matches in the period 2006 to  2013 for one billion euros.

    SOURCE: Aljazeera + Agencies


    YOU MIGHT ALSO LIKE

    All Hail The Algorithm

    All Hail The Algorithm

    A five-part series exploring the impact of algorithms on our everyday lives.

    The priceless racism of the Duke of Edinburgh

    The priceless racism of the Duke of Edinburgh

    Prince Philip has done the world an extraordinary service by exposing the racist hypocrisy of "Western civilisation".

    China will determine the future of Venezuela

    China will determine the future of Venezuela

    There are a number of reasons why Beijing continues to back Maduro's government despite suffering financial losses.