Celtic extends sponsorship deal

Celtic have been boosted by a £25m (€26.9m) windfall after their kit deal with Nike was extended for another five years.

The contract between the Parkhead club and Nike was due to expire at the end of June 2010 but will run on until 2015.

A statement released to the stock exchange this 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.

"Based on performance during the current contract, fee and royalty income under the new arrangements are likely to be similar to the annual £5m (€5.4m) royalty guarantee under the current contract."