Arsenal announce record shirt deal with Emirates

LONDON: Arsenal have announced a five-year £200 million (RM1 billion) extension to their contract with shirt sponsors Emirates in a deal described as the largest in the club’s history.

Emirates, who also own the naming rights to the stadium, will continue to sponsor Arsenal’s shirts and training kit until the end of the 2023-24 season.

The contract is worth £40 million a year and continues Arsenal’s partnership with the Dubaibased company which began when the Gunners moved from Highbury to the new ground in 2006.

The deal continues the longestrunning sponsorship partnership in the Premier League and Arsenal chief executive Ivan Gazidis told the club’s website it will provide the investment required for them continue to compete for silverware.

“Our shirt partnership is the longest running in the Premier League and one of the longest relationships in world sport,” said Gazidis. “This mutual commitment is testimony to the strength and depth of our unique relationship.”

Arsenal have been searching for a new shirt sponsorship deal since June 2017 amid suggestions that Emirates, who also sponsor Real Madrid, Paris SaintGermain, AC Milan, Benfica, Olympiacos and Hamburg’s shirts, were only interested in maintaining their naming rights on the stadium.

Arsenal’s previous shirt contract raked in £30 million a year in comparison to London rivals Chelsea, who earn £40 million annually from their shirt sponsors Yokohama Tyres.

In total since the summer of 2013, Arsenal have earned £117 million from off-field activities compared to £280 million raked in by Manchester United.