FC Barcelona have agreed a new, five-year sponsorship deal which is worth €56 million ($60 million) according to Mundo Deportivo
The agreement has been struck between the Catalans and Dutch electronics giant Philips PHG , who will sponsor the sleeve of the first team shirt moving forward.
Philips registered its interest in sponsporing the newly-crowned La Liga champions four months ago and negotiated with the vice president of marketing Juli Guiu plus brand director Sergi Ricart.
According to MD, the two parties have now signed a contract which is fixed for three seasons and has a clause where another two terms can be taken up optionally.
The reason why the last two years are not guaranteed is because there could be another president in place if current leader Joan Laporta isn’t re-elected.
