Business
Extended Kit Supply Deal
Extended Kit Supply Deal.
About this update from Celtic Plc
[{"type":"text","content":"\n RNS Number : 7223O Celtic PLC 12 March 2009 \n \n\nCELTIC PLC\nEXTENDED KIT SUPPLY DEAL\n\nCeltic 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. \n\nThe 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.\n\nIn 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. \n\n\nEnquiries:\nRobert Howat Company Secretary 0141 551 4298\nIain Jamieson, Public Relations Department 0141 551 4235\n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCILFFDVVILLIA \n ","length":3058,"tagName":"div"}]