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Spurs strike 15-year agreement with Nike

English Premier League club Tottenham Hotspur has extended its kit deal with sporting goods giant Nike in a 15-year deal, running from 2018-19 until 2032-33.

The club did not reveal the financial details of the deal, but the previous agreement was thought to be worth around £30m ($38.5m) per year.

The club said in a statement: “In recent months we have secured an extended agreement with Nike up to 2033, one of the longest football club deals in Nike’s history.

“We have also announced a number of new brand partners, including, amongst several others, Audi, IWC Schaffhausen, HPE and EA Sports.”

The agreement was revealed within a much wider statement on the club’s financial status in regard to the funding of its new stadium. The facility was initially slated to open earlier this season, but is unlikely to be completed until next year.

Spurs confirmed that borrowing for the stadium had increased to £637m, up by 60 per cent on the initial £400m deal.

The club’s search for a Naming Rights partner was also briefly alluded to in the statement: “The residual amount of gross debt to be converted or extinguished will depend on a number of factors, including several commercial discussions,” the club said.

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The partnership is understood to be a three-season deal, from 2019-20 to 2021-22, and builds on AXA’s existing Global Partner agreement with Liverpool.

The deal is the largest ever sponsorship investment in UK women’s sport and comes less than a year after the league went fully professional in September 2018.

Under the five-year global deal, Oppo will become the first Official Smartphone Partner of The Championships, Wimbledon, as the event is officially known.

US sportswear brand Nike is paying about $7.5m (€6.7m) per year to sponsor China’s League of Legends Pro League (LPL), according to industry sources.