Barcelona has announced that it has renewed its contract with sports brand Adidas for the next five years.
The agreement, which will run from 2019 to 2024, is worth €50 million ($66 million) and includes a clause that allows Barcelona to extend the deal by another two years if both parties agree.
"We are delighted to renew our partnership with Adidas," said Barcelona president Josep Maria Bartomeu. "This agreement reflects our commitment to continuing to deliver world-class football on the pitch while also supporting the club's ongoing efforts to grow our global brand."
Adidas is one of the most popular sportswear brands in the world, and has been the official sponsor of several major football clubs including Manchester United, Real Madrid and Paris Saint-Germain.
Under the terms of the new agreement, Adidas will continue to provide equipment, trainingwear and other products to support Barcelona's squad during their time at Camp Nou.
"Adidas has been a great partner for us over the past few years," added Barcelona sporting director Ramon Calderon. "We are looking forward to working closely with them again as we strive to achieve even greater success on the pitch."
The news comes after Barcelona suffered a disappointing season under new coach Quique Setien, who was replaced by Ernesto Valverde last month.
Despite this, the Catalan giants have still managed to maintain their position at the top of La Liga, winning four out of six games since Valverde took charge.
Overall, the renewal of the Adidas deal is likely to be seen as a positive sign for Barcelona, particularly given the challenges they faced in recent months. The club will now look to build on their impressive start to the season under Valverde and work towards securing more success in the coming years.