US sportswear giant NIKE has confirmed that it will continue supplying the kits of Inter Milan after announcing a renewed contract with the Italian soccer giants.
The financial details and the length of the contract were not disclosed, but the Italian newspaper Calcio e Finanza has placed the value of the contract as €30 million ($32.93 million) per year over an eight-year period.
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Nike has supplied Inter’s kit since 1998 and has a current deal through to the end of the 2023-24 season but reportedly began talks with the club last year to extend its partnership further.
The renewal will see Nike continue to design match and training kits for the men’s, women’s, and youth teams, as well as lifestyle collections.
The club said the team kits will feature “the latest innovation in materials … prioritizing mobility, breathability, and sustainability.”
Alessandro Antonello, Inter Milan’s chief executive of corporate, said: “[Nike and Inter have] been able to develop together over the years and consolidate our roles as global icons, going beyond football.
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By GlobalData“This alliance has provided us with incredibly happy moments over the last 25 years and we’re delighted that Nike has chosen to continue working with our club.”
Last year, Italian media reported Nike and Inter had agreed to renew their partnership until 2030 in a deal worth €24 million per year plus bonuses.
Last month (June), Inter agreed to a short-term shirt sponsorship deal with Paramount+, the streaming service owned by the major US broadcast network, covering the Serie A club’s final league game against Torino for the 2022-23 season, as well as its UEFA Champions League defeat against English giants Manchester City.
The deal came after the club was forced to play without a front-of-shirt sponsor for several weeks after ending its contract with blockchain platform DigitalBits due to issues with contract payments.
The firm reportedly missed payments worth €24 million in total.
DigitalBits had signed a four-year contract with Inter in the opening weeks of the 2021-22 campaign. That deal was initially for sleeve sponsorship rights until 2025, switching to front-of-shirt rights ahead of 2022-23.
This issue also affected Inter’s Serie A rivals Roma who removed the DigitalBits logo from their shirts as well.
Paramount+, meanwhile, will reportedly serve as Inter’s back-of-shirt sponsor, replacing technology company Lenovo, which became the club’s sponsor for the 2021-22 season.
Paramount holds Serie A rights in the US and shows games through its CBS Sports network in a deal running until the end of the 2023-24 campaign.
