FC Barcelona used social media and an email sent to the press to announce its new sponsorship deal with Nike which is believed to be the highest-paid in soccer.

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.

Barcelona have announced a new multi-year partnership with kit supplier Nike. The deal continues an association between the Spanish club and American sports brand that dates back to 1998. The new agreement comes into force this season.