Credit: Insidefoto/SIPA USA/PA Images

AS Roma has announced that it has prematurely terminated its decade-long commercial partnership with Nike four years early as the club looks to ‘explore new opportunities’.

The Serie A club initially signed a deal with Nike in 2013, however, the partnership will now officially conclude when the 2019-20 campaign is completed. 

On the recent development AS Roma Chief Operating Officer Francesco Calvo stated: “The early termination of the commercial agreement will allow AS Roma to explore new opportunities in the equipment and licensing space.” 

A new agreement between Roma and Nike has been confirmed for the 2020-21 season which will see the two companies continue to collaborate for at least one more year. As part of the new deal, the sportswear brand will provide the club with all on-pitch, training and casual products for the first team, youth teams and women’s teams.

The original ten-year deal included a basic fee of €4m per season, which rose to €4.1m from 2019-20 and would have continued to €4.2m from 2020-21 until its conclusion, according to a joint financial release by Nike and Roma’s brand management company at the time of the announcement. 

According to multiple media reports the agreement, including bonuses and signing fees, was estimated to be valued at €5 million a year. 

Additionally in other Serie A news, Hellas Verona has also signed a short-term back-of-shirt sponsorship with Sundek. The logo, which was first presented against AS Roma, will be featured in the club’s games against Torino, Lazio, SPAL and Genoa

Insider Insight: Whilst the reasons for the deal have not been specified, the intention of Roma prematurely ending the deal could be a result of the side wanting a more lucrative offer from other sportswear brands in the future. Particularly with the likes of Juventus, Inter Milan and AC Milan publicly having higher valued contracts, reportedly eight-figure sums, with their sportswear partners.