Nike teams up with Tottenham as earnings and revenues climb
Tottenham Hotspur, one of England’s top soccer clubs, have today signed up US sportswear giant Nike as their new kit supplier for the 2017-18 season onwards.
The "multi-year" deal is worth £30 million ($39 million) per annum, according to initial reports.
Nike is replacing US rival Under Armour, which has provided the north London club’s kit since the start of the 2012-13 season.
The deal had been expected after images of Tottenham’s home kit for next season were leaked on the internet in recent weeks.
Nike will supply the apparel of the Tottenham men’s, women’s and academy teams, plus coaching staff and representatives of the club’s foundation.
Under Armour’s deal was worth an estimated £10 million per year although the club’s stock has risen after finishing third and second in the Premier League in the last two seasons to ensure qualification for the Champions League.
It is also in the process of building a new stadium close to its former home of White Hart Lane, which is necessitating a switch to Wembley Stadium for home games next season.
Tottenham chairman Daniel Levy said: “Nike is committed to partnering with us both at home, at a time when our new stadium scheme is the catalyst for the regeneration of Tottenham, and globally, with our growing fan base mirrored by Nike's worldwide reach."
Trevor Edwards, the president of the Nike brand, added: “The partnership allows Nike Football to accelerate our focus on London, connect deeply with an incredibly passionate global fan base, and drive ongoing growth across the world.”
The deal was announced a day after Oregon-based Nike posted an increase in earnings and revenues for the fourth quarter.
Net income climbed by 18 per cent, from $846 million to $1 billion, as sales grew by 5.3 per cent to $8.68 billion, figures that were above expectations.
The bottom line was boosted by double-digit growth for the main Nike brand in western Europe, China and emerging markets.
In a statement, Nike chief executive Mark Parker said the company “continues to create both near-term wins in today's dynamic environment and a lasting foundation for future growth.”
The company has also confirmed a tie-up with Amazon, under which it will, for the first time, sell a limited range of products, including footwear, apparel and accessories, directly through the online retailer.
Earlier this month, Nike announced it is to cut 2 per cent of its global workforce as part of a new corporate structure aimed at tackling changes in consumer habits and tastes.
The move is expected to involve the loss of 1,400 jobs.
• Huddersfield Town, newcomers to the Premier League, have today signed up OPE Sports, an online betting company, as their main sponsor for the 2017-18 season onwards.
Under the multi-year deal, OPE Sports, a subsidiary of international operator Opebet, will receive branding on the northern club’s home and away shirts and on pitchside LED boards at its John Smith’s Stadium.
The new partner replaces three companies which shared the sponsorship rights until the end of last season – Pure Legal Limited (home kit), Radian B (away kit) and Covonia (third kit).
The new deal was negotiated by SportQuake the UK-based sports marketing agency, and, although the value has not been disclosed, Huddersfield said it was “the biggest deal of its kind for the club.”
Huddersfield are preparing for their first season in England’s top flight since 1971-72 after beating Reading in last month’s Championship play-off final.
Meanwhile, Everton have agreed a multi-year deal with Blackwell Global to become the club’s first official foreign exchange and brokerage partner.
The new sponsor will have a presence at the Premier League club’s Goodison Park stadium on matchdays and offer club-related experiences for supporters and worldwide clients.