Last checked at 12 Mar 2009 08:00
CELTIC PLC
EXTENDED KIT SUPPLY DEAL
Celtic plc ("Celtic") announces that its current kit supply contract with NIKE, which is due to expire at the end of June 2010, has been extended for a further 5 years.
The new agreement, between Celtic's wholly owned subsidiary, Celtic F.C. Limited and NIKE European Operations Netherlands B.V. ("NIKE"), will commence on 1 July 2010.
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 royalty guarantee under the current contract.
Enquiries:
Robert Howat Company Secretary 0141 551 4298
Iain Jamieson, Public Relations Department 0141 551 4235