Arsenal have signed a five-year extension to their shirt sponsorship deal with airline Emirates.
The extension through to the end of the 2023-24 season, the largest sponsorship deal ever signed by the club and understood to be worth over £200million over the course of five years, extends a partnership that will run to at least 18 years by the end of the newly-signed contract.
Chief executive Ivan Gazidis hailed a “significantly” improved deal that he believes will help the club compete in the upper echelons of the Premier League.
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"Our shirt partnership is the longest running in the Premier League and one of the longest relationships in world sport,” Gazidis said.
“Emirates are again demonstrating their great belief in our approach and ambition and their significantly increased investment will help us continue to compete for trophies and bring more success to the club and our fans around the world.”
Emirates have also sponsored Arsenal’s stadium since its opening in 2006 and will continue to do so until 2028. The club’s kit manufacturing deal with Puma, valued at £30million a year, expires at the end of the 2018-19 season.
Commercial revenue at Arsenal has been largely stagnant since they signed up with Puma in the summer of 2013, with the Gunners earning £117.3m from off-field activities and sponsorship compared to the £279.5m of Manchester United.