Nike signs Chinese FA as new kit partner
Nike has agreed a new contract to supply kit to China’s national soccer team ahead of the upcoming Asian Cup tournament.
The deal, reportedly worth US$16 million-a-year until 2026, comes after the Chinese FA severed its ties with Nike’s greatest rival Adidas at the end of 2014. The deal has been stabilized for 10-12 years and Nike would provide about 30% of the deal by physical supplies. The rest would be through sheer finances.
The Chinese National Football Team is preparing for the 2015 AFC Asian Cup in Australia. New kits would feature the Nike logo and are slated to be directly transported to Australia from around the world. Nike plans on revealing the official shirt designs later this month.
Nike, according to parties privy to the deal, will serve as patron to all seven national teams, including men’s and women’s national football teams. This will also include the country’s national Olympic team, and a few youth teams. Prior to Nike replacing Adidas, the German multinational conglomerate was a 30-year partner of Chinese national football teams. Adidas had priority rights for renewal of the deal, but it was said that the corporation gave up renewing.