China's top soccer federation, the Chinese Super League, will reportedly sign a 10-year kit sponsorship extension with Nike worth nearly $500 million.
According to South China Morning Post—which credits Chinese newspaper Beijing Youth Daily for breaking the news—the Chinese Super League will keep its current Swoosh sponsorship, continuing the long-term deal which has been active since 2009.
To retain the league, Nike will reportedly spend a total of RMB 3 billion (approx. $473 million USD) over the duration of the deal. The total value includes RMB 2.2 billion in apparel ($347 million USD) and another RMB 800 million ($126 million USD) in cash.
Despite the sizable sum, there are rumblings that not all of the federation's 16 teams are pleased with the extension. South China Morning Post cites recent posts on Chinese social media network Sina Weibo, which suggest the Beijing Guoan team may try to separate from the deal and acquire another kit provider.
According to the report, Beijing Guoan believes that it's worth more than what it would receive from an even split of Nike's payout.