The deal not only renews Nationwide's joint sponsorship of the England team, but includes sponsorship of the FA Cup and exclusive sponsorship of the England women's football team.
The announcement comes just two weeks after the FA announced that sports clothing manufacturer Umbro has paid 拢150m to scoop the FA's top sponsorship package.
This means that England football teams at every level will continue to wear Umbro sports, training and leisure products, as well as other sponsorship opportunities.
Three other high-profile names are said to be close to announcing more four-year deals, worth more than 拢30m, with the FA.
Once all five agreements are signed, the FA will have negotiated almost 拢300m worth of sponsorship, at a time when the industry is suffering from a downturn.
The news is also in stark contrast to the fortunes of the Football League, which represents first, second and third division football clubs.
The league is currently embroiled in a battle with ITV Digital over the terms of a 拢315m TV rights deal that ITV Digital says it can not afford to pay.
The league has threatened to take ITV Digital owners Carlton Communications and Granada to court if the digital broadcaster does not meet the payments.
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