FC Barcelona's Representatives Approve Groundbreaking Agreement with Nike
FC Barcelona members approved a groundbreaking agreement with kit sponsor Nike during a meeting on Saturday, just before the Catalans were set to face Atletico Madrid in a crucial La Liga home match.
The club announced the agreement on November 9 through an official statement sent to journalists and shared on social media.
"FC Barcelona and Nike, two notable names in the sports industry, are thrilled to launch a new multi-year partnership agreement that will commence this season and introduces a new form of strategic collaboration between the two organizations," the Catalan club wrote in their statement.
The deal required ratification by the club's members, referred to as socios, though this was done during an Extraordinary Assembly called for December 21.
The agreement was approved by 419 votes in favor, counterbalancing the 27 votes against.
President Joan Laporta stated that the new agreement is advantageous for the club, as it "boosts the club's economy without requiring members to dip into their pockets and ensures our model as a [fan-owned] club."
"We are resolute and convinced that we will fully recover the club in every aspect. And this agreement is an integral part of that recovery as it significantly contributes to our economic recovery and also confirms it. Barca stands at the pinnacle of the world with this agreement," Laporta expressed his satisfaction.
"This isn't just about quantitative and qualitative growth, it's about moving forward. We consider both the present and medium-term prospects. There's a fixed sum and bonus for objectives, but there are no penalties anymore.
"Moreover, this contract puts a variety of assets at our disposal that we didn't have before and can now monetize through BLM [Barca Licensing and Merchandising], resulting in substantial income for us".
While Laporta didn't disclose any figures, reports had previously suggested that the fresh arrangement is worth $1.77 billion (€1.7billion) to the Catalans.
In any case, the agreement getting approved by members is a positive sign for Barca ahead of its most significant game of the season against Atleti, where it aims to halt a two-game run of home losses.
Atletico Madrid and Real Madrid, two formidable rivals in La Liga, will likely notice the new partnership between FC Barcelona and Nike, as the agreement introduces innovative strategic collaborations for the Catalan club. Despite wearing Nike kits, Atletico Madrid and Real Madrid are sponsored by Adidas and set to face Barcelona in their upcoming match.
