LONDON (AFP) - Arsenal announced on Monday, Jan 27, 2014, the most lucrative kit deal in their history, in a tie-up with Puma worth more than a reported 30 million pounds (S$63.5 million) a year to the Premier League leaders.
The agreement, which will see the German sports manufacturer take over from Nike as Arsenal's official kit suppliers from July 2014, was described in a joint statement as "the biggest deal in Puma and Arsenal's history".
The Gunners are understood to receive around 30 million pounds a year from main sponsors Emirates Airlines, and while no financial details were given, reports have indicated the new deal will be for a similar amount when Puma replace US-based rivals Nike, who have been the London club's kit provider since 1994.
"We are excited to be partnering with Puma, a company whose football heritage and record of innovation have a strong affinity with our own," said Arsenal chief executive Ivan Gazidis.
"This represents another important step forward in Arsenal's progression on and off the pitch."
Puma chief executive Bjorn Gulden added: "Arsenal have been a key strategic target for Puma for a number of years now."
He said Arsenal "represents a major commercial and marketing opportunity to reinforce Puma's credibility as a global sports brand".
Puma, for decades one of the world's leading manufacturers of football boots, also have deals in place with current Arsenal striker Olivier Giroud and former Gunners favourite Cesc Fabregas, now at Barcelona, as well as the Italian football federation and leading German club Borussia Dortmund.