In an official statement to the press and on social media, FC Barcelona revealed a new sponsorship agreement with kit supplier Nike, reportedly the highest-paying deal in soccer history.

“FC Barcelona and Nike, two prominent brands in sports, are thrilled to announce the beginning of a multi-year partnership, effective from this season, introducing a new model of strategic collaboration between our organizations,” the Catalan club shared in its statement.

Barcelona highlighted that their partnership with Nike began in 1998 and emphasized a “shared dedication to innovation, creativity, and the pursuit of excellence both on and off the pitch,” as they’ve experienced “nearly four decades of exceptional football” together.

The club referenced its achievements since then, including four Champions League titles in men’s soccer, 12 La Liga titles, three Club World Cups, and three European Super Cups, among other honors.

Though financial details were not disclosed in the statement, Mundo Deportivo and Culemania reported that Barcelona is set to receive $1.82 billion (€1.7 billion) from Nike over the course of 14 seasons, averaging around $129.5 million (€121 million) annually.

From 2024 to 2028, this amount is expected to increase by about $51.4 million (€48 million) per year. Beyond 2028, the annual figure could rise by an additional $62 million (€58 million) to $64 million (€60 million).

Regardless of how the payments are structured, this agreement is believed to be the most lucrative sponsorship deal in soccer’s history.

While the deal’s finalization was anticipated for next week, Culemania director Victor Malo reported that negotiations accelerated on Thursday night, prompting President Joan Laporta to call an urgent board meeting on Friday to approve the contract.