FC Barcelona used social media and an email sent to the press to announce its new sponsorship deal with Nike which is believed to be the highest-paid in soccer.

The deal is said to include a €158m signing-on bonus for Barcelona, to be paid over the course of the agreement. They will also earn an extra €127m annually, taking the overall value of the deal towards the €1.7bn mark.

Barcelona have announced a 14-year kit manufacturing deal with Nike worth £1.4bn in what is a record agreement of its kind.