The 23-year extension, according to USATF, "significantly increases the overall support for track and field for athletes throughout the United States".

"This new deal is a game-changer for the sport and what USATF will be able to offer all of our constituents," added chief executive Max Siegel.

"In working together with Nike, we placed an emphasis on growth as well as scope, so we can broaden the level and breadth of support for all USATF programmes.

"Nike's support for USA Track & Field and the sport as a whole is unmatched, and we look forward to this new era of collaboration."

Although terms were not disclosed, ESPN.com reports the deal is worth between $450 million (£267 million/€325 million) and $500 million (£297 million/€361 million) in cash and goods, dwarfing the deal signed in 2009 and running through to 2017 that was worth roughly $10 million (£6 million/€7 million) a year in cash and goods.

Nike and USA Track & Field have been in partnership since 1991 and this new deal will see the kit manufacturer continue to sponsor the National Championships ©Getty Images



The new deal will see Nike continue to sponsor USATF's indoor and outdoor track and field championships and continue to outfit all USATF teams in international competitions, including the Olympic Games, World Championships, Pan American Games and World Junior Championships.

Under the new agreement, Nike maintains its status as exclusive sponsor and supplier of products to the US track and field team, while being USATF's official sponsor in footwear, apparel and retail.

"Nike was founded as a running company, and our passion for track and field is at the core of our DNA," said Mark Parker, chief executive and President of Nike Inc.

"We have been a longstanding partner of USATF since 1991 and are extremely proud to extend our partnership and commitment to the sport."

Nike has been a partner of USATF since 1991 and is the track and field governing body's largest corporate sponsor.

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