English soccer side Manchester City have expanded their sponsorship agreement with Nexen Tire.
The Korean tyre giant will be the official sleeve partner of the Sky Blues for all Premier League matches in the 2017/18 season. As a result, City become the first club in English soccer’s top flight to announce such a sponsorship deal.
Nexen has been a partner of the two-time Premier League champions since 2015. The expanded deal will see the manufacturer’s logo placed on the left sleeve of City’s men’s and women’s first-team playing shirts. In addition, Nexen will continue to have a significant presence at all of the club’s Premier League and domestic cup games played at their City of Manchester Stadium
Although the financial terms of the ground-breaking deal have not been released, it is widely reported that a sleeve sponsor could be worth up to UK £10 million (US$12.4 million).
“We are delighted to continue our successful partnership with Nexen Tire,” said Ferran Soriano, Manchester City’s chief executive.“At Manchester City, we are always striving to take an original approach to our commercial partnerships, creating great relationships and great content for our fans.
“We are especially pleased to be the first Premier League club to secure an official sleeve partner. Nexen is an exciting and growing brand and we are extremely happy both to have extended and grown our relationship.”
This week Manchester City were knocked out of the Uefa Champions League in the round of 16. The Pep Guardiola-managed outfit lost on away goals to France’s Monaco, relinquishing a first leg lead of 5-3.