Manchester City have announced a new kit deal with PUMA stretching until 2035, which is expected to generate record-breaking revenues.
The invincible sheen to Pep Guardiola’s dethroned Premier League champions has been irrevocably removed in recent months. After enduring the worst form of Guardiola’s tenure, City conspired to get dumped out of the Club World Cup round of 16 by Saudi outfit Al Hilal.
This decline on the pitch has not impacted an upsurge on the balance sheet. City’s new arrangement with PUMA will provide yearly returns of £100 million ($134.6 million), taking total earnings to £1 billion ($1.3 billion) for the duration of the 10-year contract, The Guardian report. This is thought to be the most lucrative kit agreement in Premier League history.
City’s previous agreement with PUMA had reportedly been worth £65 million ($87.5 million) and was set to run until 2029. By renegotiating the terms of this contract, City are set to earn an extra £100 million over the next four years alone.
The club’s official website boasted: “Commercially, Manchester City and PUMA have set new club sales global records.” Ferran Soriano, Chief Executive Officer of City Football Group, lauded: “Today’s renewal and extension solidifies our relationship and projects it to an even brighter future.”
PUMA are also a partner for a fleet of other clubs under the City Football Group umbrella, including Melbourne City FC, Girona, Lommel, Mumbai City FC, Montevideo, Palermo, Bolivia and most recently Bahia and ESTAC.
City are not in a position to turn down this added revenue. In a desperate attempt to recover their dwindling form, Guardiola has overseen a swift squad overhaul. This calendar year, City have splashed more than £300 million ($403 million) on transfers, bringing in the likes of a Omar Marmoush and Nico González in January before bolstering their squad further with Tijjani Reijnders, Rayan Aït-Nouri and Rayan Cherki.
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This article was originally published on www.si.com as Man City Land Record-Breaking 10-Year Sponsorship Deal.
