Nike and PSG Close to New Deal

Paris Saint-Germain and Nike are close to agreeing an extension to their long-running kit deal, according to Loïc Tanzi of RMC Sport.

Both parties have long been reported to be negotiating an extension to their agreement that started in 1989 (Nike's longest-running in football) and is currently worth around €25 million per year. Per RMC Sport, an agreement is close and could be found before the end of the current season.

A new deal would heavily increase the current, quite low €25m / year value of the Nike PSG kit deal, which is a far cry from the biggest clubs in Europe. The likes of Barcelona and Real Madrid, for example, have contracts that guarantee around €100 million per season, with performance-based bonuses adding to it.

The PSG and Nike are negotiating for an extension of the agreement that has linked the two brands since 1989. According to our information, negotiations are well under way and could be concluded before the end of the season.

Last February, Nasser Al-Khelaifi, president of the club, stated that "we've always talked to Nike," he said. It is one of the world's leading brands. We're talking, that's right. We're very happy with Nike."

It's speculated that the new deal would be worth around the same or a little less than what Manchester City will earn from their new Puma deal, which is worth €75 million per season.

Are you happy to see PSG all but confirmed to be continuing with Nike? Comment below, and check out the 19-20 Kit Overview for more.