In other news from Nike, the company has extended its partnership with another major soccer icon as it inked a long-term apparel manufacturing deal with London soccer club Arsenal. The seven-year deal, reportedly worth £55 million ($88.5 million), will run through June 2011 and extends the agreement in place since 1994. Nike will have a three-year extension option.
“Arsenal Football Club will grant to Nike exclusive worldwide rights as the official kit sponsor of AFC and as the manufacturer, marketer and seller of licensed technical replica apparel, footwear, equipment, including the replica kit,” Arsenal said in a statement.
The deal further solidifies Nikes penetration of the U.K. soccer market after it signed Premier League champion Manchester United to a 13year deal worth an estimated £303 million ($487.5 million).
