The new deal takes effect from the 2014-15 season and will run until at least the end of the 2021-22 campaign. The two parties’ current contract, which is worth about €6.5m ($8.8m) per year, was due to expire at the end of the 2013-14 season.
The defending Ligue 1 champion has been a partner of Nike since 1989 and had been seeking between €20m and €30m per season in the new deal, but financial terms were not disclosed.
Under the terms of the extension, all match day performance kit, training wear and sportswear will continue to be designed by Nike whereas PSG will continue developing its global merchandising and retail strategy.
Trevor Edwards, Nike brand president, said: “We began working with the club almost 23 years ago and there has never been a greater potential for the partnership than there is today. Paris Saint-Germain is one of the most ambitious, forward-thinking and innovative teams in sport and we look forward to the future.”
The Nike deal caps a busy commercial year for PSG in which the club has signed an array of new partnerships. In May, the capital city club agreed a five-year extension to its shirt sponsorship partnership with Emirates in a new deal that reportedly represented a four-fold increase in value over the current contract.
The Dubai-based airline’s new agreement with PSG will now run through to the end of the 2018-19 season and is said to be worth a basic €20m per season, rising to €25m depending on sporting results. [Source: Sport Business]
Nike not only strengthens its presence on the french market, but extends its partnership with the PSG brand, a brand that is set to compete against that of FC Barcelona, Real Madrid or Chelsea.