Premier League giants Arsenal have announced a new kit deal worth several millions of pounds with German sportswear manufacturers Adidas.
The announcement was made by the North Londoners earlier on Monday.
According to the club, it’s a five-year deal expected to take effect as from July 2019 until the end of the 2023/2024 season.
The deal is reportedly worth £60m on a yearly basis meaning that the five-year contract with Adidas is around £300m.
The Gunners have been with Puma for the last five years with the contract expected to expire at the end of this season.
The £60m-a-year contract is the joint second highest kit deal in the Premier League alongside that of London rivals Chelsea and behind Manchester United’s kit deal.
The Red Devils’ kit deal is worth a whopping £75m on a yearly basis.
Arsenal’s new kit deal is worth double of the present contract with Puma (£30m per year).
The latest development represents another piece of good news for the North London club after Sunday’s away win over Fulham.
The trio of Alexandre Lacazette, Aaron Ramsey and Pierre-Emerick Aubameyang were all on target in the 5-1 victory over the Cottagers.
It was their ninth straight victory in all competitions.
Arsenal stay winning on and off the pitch as a result.