Paris Saint-Germain (PSG) is nearing a groundbreaking agreement with Nike that could nearly double the club’s current sponsorship earnings from the American sportswear giant. This strategic move comes as PSG looks to leverage its status as back-to-back European Champions to enhance its financial standing.

According to a report from L’Equipe, PSG is renegotiating its kit sponsorship deal a full six years ahead of its expiration. The proposed new agreement will extend their partnership with Nike by an additional five seasons, lasting until 2037.

Key aspects of the deal include:

• Annual payment increase from €60 million to €100 million
• Bringing PSG closer to Barcelona, whose sponsorship figures are around €120 million per year
• Continued exclusivity of the Nike “Jordan” sub-brand for PSG among football teams

Despite facing challenges in recent years with the departures of superstars like Lionel Messi, Neymar, and Kylian Mbappe, PSG has successfully restored its brand through on-field achievements.

In related news, PSG is reportedly set to announce a contract extension with Fabian Ruiz, finalizing a 1+1 deal. Meanwhile, Juventus has expressed reluctance to meet the full €45 million asking price for Randal Kolo Muani, putting the ball in PSG's court for a possible response.