Barcelona have reached a total agreement with Nike, only signature pending – report | OneFootball

After months of negotiations and to-and-fros, FC Barcelona are finally very close to announcing an agreement with kit manufacturers Nike over a new and improved contract, reports Mundo Deportivo.

As per the report, the deal is verbally agreed and now awaits a formal signing ceremony, which is expected to take place after the assembly of club delegates, likely scheduled for Saturday, October 19.

The current contract with Nike, set to expire in 2028, will be extended, along with an increase in the financial compensation the club receives, which is expected to exceed €100 million.

Additionally, Barcelona will receive a renewal bonus that will enable the club to comply with LaLiga’s 1:1 Fair Play rule, helping them in signing and registering players ahead of the winter transfer market.

The new financial terms with Nike are already included in the budget for the 2024/25 season, which the board of directors will approve during an extraordinary meeting this Monday. This follows a delay in approval last Thursday, requested by auditors finalizing the audit report.

Details of the agreement remain undisclosed. A key point of contention in recent months has been Nike’s interest in acquiring a percentage of Barça Licensing and Merchandising (BLM).

On June 16, 2022, the assembly of club members authorized the board to sell up to 49% of BLM to ensure that Barça retains majority control over this crucial revenue stream. However, this “lever” has yet to be activated.

Either way, there is now a full agreement in place with Nike which will help Barcelona return to the 1:1 rule heading into the winter.