BARCELONA: Barcelona announced a new kit deal with American sportswear brand Nike on Saturday, which Spanish reports say could be worth as much as 1.7 billion euros ($1.82 billion) between now and 2038.

Nike has made the Catalan giants' kit and other club-branded attire since 1998 and the existing deal was due to expire in 2028.

"Barcelona and Nike, two leading brands in the sports industry, are pleased to announce a new start with a multi-year partnership agreement, effective from this season," said the Catalan giants in a statement.

Barcelona did not reveal the length of the new deal or the finances behind it

The Spanish club had tried to terminate their previous deal with Nike earlier this year but were prevented from doing so in July by a Spanish court specializing in commercial law.

Barcelona have been struggling financially for several seasons and in 2022 sold 25 percent of their television rights for the following 25 years to US private equity group Sixth Street.