According to Mundo Deportivo, FC Barcelona and shirt manufacturer Nike are finally extremely close to announcing an agreement on a new and improved contract after months of back and forth.

According to the source, the agreement has been reached verbally and is awaiting a formal signing ceremony. This is anticipated to happen following the club delegates’ meeting, which is most likely to happen on Saturday, October 19.

The present agreement with Nike, which is scheduled to expire in 2028, will be extended, and the club will also get an increase in compensation that is anticipated to be in excess of €100 million.

Barcelona will also get a renewal bonus, which will allow the team to recruit and register players ahead of the winter transfer window and allow them to comply with LaLiga’s 1:1 Fair Play regulation.

The budget for the 2024–2025 season, which the board of directors will approve coming Monday during an extraordinary meeting, already includes the new financial arrangements with Nike. This comes after the auditors asked for a delay in clearance last Thursday in order to complete the audit report.

Specifics of the deal are still under wraps. The desire of Nike to own a portion of Barça Licensing and Merchandising (BLM) has been a major source of dispute in recent months.

The club members’ assembly gave the board permission to sell up to 49% of BLM on June 16, 2022, so long as Barça maintains majority control over this vital source of income. This “lever,” though, has not yet been turned on.

In any case, Barcelona will be able to resume using the 1:1 rule going into the winter thanks to the complete agreement that has been reached with Nike.