Premier League club Arsenal have announced a new kit deal with Adidas, which is expected to be worth £300 million over a five-year period. The London club has confirmed the partnership on Twitter, stating the deal will be effective from 1 July, 2019.
The new deal is worth £60 million per season, almost double in terms of amount as per the current agreement the club has with Puma.
Arsenal and adidas have agreed a new kit partnership, effective from July 1, 2019 pic.twitter.com/ceZzq0elgs
— Arsenal FC (@Arsenal) October 8, 2018
This means that Arsenal's agreement with the German company is the joint second most lucrative arrangement of any English club, behind Manchester United's deal with the same company, which is valued at £75m. Chelsea's deal with Nike is worth the same amount as Arsenal's.
Arsenal's last agreement with Adidas was between 1986 and 1994, during which the club won the league title twice, under the manager George Graham.
This deal comes after the club signed a new shirt sponsorship agreement with Emirates, which is worth £200 million. Considering the two new deals, Arsenal's spending prowess will now increase irrespective of club's qualification to Champions League next year.
Barcelona's current deal with Nike is considered to be the biggest, with the American sportswear giant paying a whopping £120m per year.
Former Arsenal player Ian Wright welcomed the news of the new deal on his social media accounts.
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Updated Date: Oct 08, 2018 17:30 PM