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US sportswear brand Nike has extended its contract with the English Football Association (The FA) until 2030, but not to conditions favoured by both sides.
The Three Lions, the English national team, had made a second record exit to minnows Iceland at the 2016 UEFA European Championships in France after a group stage exit at the 2014 FIFA World Cup in Brazil.
This has resulted in Nike taking a rather conservative financial approach when offering a contract extension to the FA for the contract which would have run out in 2018.
Though figures have not been released the contract is estimated to be worth 400 million pounds until 2030, but with penalties depending on the performance of the Three Lions, which Nike included as their success or failure would decide the sales of the England shirts.
This means that the England deal is second to only FIFA World Cup champions Germany and adidas, which is estimated to be worth 50 million Euros per year.
