European champions Barcelona expect to earn €150 million after reaching an agreement to extend a deal with sportswear giant Nike for an additional five years until 2013.

Barcelona's shirts have been made by Nike since 1998 and the club said that the new agreement included an option to extend the deal for a further five years until 2018.

"The agreement is an international recognition for success of the club on the pitch and for its social commitment," club president Joan Laporta said in a statement.

Nike president Mark Parker commented: "Barcelona are one of the best and most attractive football teams to watch. We are delighted to extend this contract."

Barca signed a deal with the United Nations in September which includes an agreement whereby they wear the name and logo of the organisation's children's agency Unicef on their shirts.

It is the first time in 107 years of history that the Catalan club have worn advertising on their shirts.