As revealed exclusively by insidethegames last month, the agreement will begin in January 2013 and run until the end of 2016 meaning that the American sportswear giant will provide uniform and products to the IOC for the Sochi 2014 Winter Olympics, the Nanjing 2014 Summer Youth Olympics, the Lillehammer 2016 Winter Youth Olympics and finally the Rio 2016 Summer Olympics.

The agreement will also include IOC Sessions, Evaluation Commissions and other key IOC events as required.

The deal sees Nike take over from Japan's Mizuno, who had been performing the function since 1995.

"We are delighted that we have reached this agreement with Nike, the world's leading sports and fitness company, and we feel that this relationship will be a great fit for the IOC," said the IOC's television and marketing director Timo Lumme.

Nike brand President Charlie Denson was equally thrilled.

"We're honoured to be working with the IOC and we look forward to this being the start of a long and successful relationship," he said.

Nike is the official NOC sponsor of the USA and appeared on the uniform worn by all American athletes at the London 2012 Olympics, including swimming star Michael Phelps

Nike, which was founded in 1964 as Blue Ribbon Sports before becoming Nike in 1978, supplied competition apparel to over 100 National Olympic Committees (NOCs) at the London 2012 Olympics, along with footwear to thousands of individual athletes.

The company is also the official NOC sponsor for the USA, Brazil, Kenya and Estonia.

In addition, the Nike swoosh also appeared on the competition and ceremony clothing, as well as the footwear, for the four independent Olympic athletes who competed under the IOC flag at London 2012.

The move is likely to be interpreted as a further sign of improving relations between the United States and the IOC after the tensions of recent years, culminating with Chicago's humiliating first-round exit in the 2016 Games race, won by Rio.

There looks to be every chance of a US city winning the right to stage the Movement's flagship event in 2024 or 2026, for the first time since the much-criticised Atlanta Games of 1996.

Contact the writer of this story at [email protected]