La Liga champions Barcelona said in a statement that details of the contract would be revealed at the club's next general assembly.
But reports in Barcelona newspapers Diario Sport and Mundo Deportivo said the deal -- which they said would run for another decade -- could be worth €155 million a season.
"FC Barcelona and Nike have extended their current sponsorship deal, which was due to end on June 30, 2018," Barcelona's statement said.
Club president Josep Maria Bartomeu added: "We are excited by this new agreement."
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