US sportswear company Nike has agreed a deal to extend its kit partnership with club football competition the Chinese Super League, according to multiple reports.
Chinese newspaper Beijing Youth Daily said Nike has agreed terms on a contract that could run for up to 10 years, with its current agreement due to expire at the end of 2019.
The new contract will reportedly take hold from June 2019 and will be signed on a ‘5+5’ basis, meaning it can be renewed after the initial five years of the deal.
The Yutang Sports website and South China Morning Post newspaper cited the Youth Daily and Sina in reporting on the agreement, with the latter report stating that Nike is set to double its financial commitment to the CSL by paying RMB2.2bn (€287.7m/$347.4m) value in kind for kit and RMB800m in cash over the 10-year term of the new partnership.
Beijing Guoan is said to be the only one of the CSL’s 16 clubs opposed to the centralised Nike deal, with the team reportedly keen to strike its own kit agreement.