Source: Team_Talk
Sponsorship boost for Celtic
The contract between the Parkhead club and Nike was due to expire at the end of June 2010 but will run on until 2015.[LNB]A statement released to the Stock Exchange on Thursday morning said: "In return for the continued grant by Celtic to Nike of exclusive worldwide rights as official supplier of kit and certain ancillary products to Celtic Football Club, Nike will pay Celtic an annual fee plus royalties on Nike's sales of Celtic branded products, with additional bonus payments depending on football success.[LNB]"Based on performance during the current contract, fee and royalty income under the new arrangements are likely to be similar to the annual £5million royalty guarantee under the current contract. "[LNB]Celtic chief executive Peter Lawwell told the club's website: "We are absolutely delighted to announce this new deal with Nike.[LNB]"To once again secure a partnership of this kind with the world's leading sports brand is tremendous news for Celtic Football Club.[LNB]"It is a deal which extends our global profile and reach and one which will bring great benefit to the club.[LNB]"Clearly, it is most satisfying that the club is making such progress and striving forward in this manner.[LNB]"At all times, Celtic strives for excellence on and off the field.[LNB]"It is fitting that, as champions of Scotland and a regular UEFA Champions League participant, we are to continue our partnership with Nike, one of the most prestigious brands in sport.[LNB]"Clearly, it is also pleasing that Nike once again sees Celtic as one of the leading names in world football and is happy to continue our association.[LNB]"Celtic Football Club has the best supporters in the world and a global reach of which we are extremely proud.[LNB]"Through our association with Nike, the club has already made a great impact on satisfying the demand from its huge global support.[LNB]"This extended relationship will allow us to further achieve our aspirations both at home and abroad."[LNB][LNB]
