Nike and Serie A club AS Roma are "set to sign a long-term agreement" for the sport’s manufacturer to produce market apparel for the club around the globe, according to Donovan & Panja of BLOOMBERG. Nike will replace BasicNet SpA’s Kappa brand, which has been the team’s technical sponsor since '07, "and place its swoosh symbol on Roma’s jerseys and other team-wear" beginning next season. Financial terms have not been revealed. Nike spokesperson Charlie Brookes and Roma’s Catia Augelli "declined to comment." Roma Marketing Dir Christoph Winterling said, "This is a very crucial decision for the club because a technical sponsor can ensure you global distribution, global visibility, and help increase business." The agreement with Nike comes two years after a U.S. investment group led by hedge fund Manager James Pallotta "became the first foreign owners" of an Italian football team. They have "revamped Roma’s commercial operations in an effort to increase revenue to fuel the team’s on-field performances." Roma has sealed contracts with Volkswagen and Walt Disney in the first half of the '12-13 fiscal year generating €6.3M ($8.2M), up 8.6% from a year earlier (BLOOMBERG, 3/12).
