Celtic Renews Lucrative Nike Kit Deal

Scottish Premier League club Celtic has extended its current five-year deal with kit manufacturers Nike for a further five seasons.

The new contract will come into effect in the summer of 2010 and, according to a club spokesman, will be in excess of the existing £25m agreement.

Chief executive Peter Lawwell said: ‘We are absolutely delighted to announce this new deal with Nike. To once again secure a partnership of this kind with the world’s leading sports brand is tremendous news.

‘It is a deal which extends our global profile and reach and one which will bring great benefit to the club. Clearly, it is most satisfying that the club is making such progress and striving forward in this manner.’

Celtic in February announced that, while profits had dropped during the six months to January, the club had slashed its debt and increased turnover.