MILAN: Internazionale and Nike have signed a 10-year agreement that is worth a reported €200m.

Inter’s previous deal with Nike still had three years left to run and the new agreement will see the two companies’ partnership go past the 25-year barrier.

A club statement read: “Inter and Nike have renewed their sponsorship agreement for a further 10 years, a deal that will take the companies’ partnership past the 25-year barrier and set a new benchmark for sports marketing in Italy.

“The new sponsorship deal further strengthens Inter’s position as one of the world’s top clubs and confirms its desire to continue expanding globally.

“A key driving force will be the realisation of a joint project to open specialised stores, and the rolling out of a new strategy for the development and marketing of Inter-brand merchandise.

“Thanks to this agreement, Inter can now look forward to a bright future on the world stage with the backing of a strong brand that ensures continuity for the project.”

The Gazzetta dello Sport reported that talks regarding a renewal had started five months ago and were conducted by Director General Marco Fassone.

Inter will receive €20m ($26.8m) a season but that figure could rise with bonuses based on results.