Manchester City have landed the Premier League’s first-ever billion-pound kit deal.
The Citizens have penned a 10-year kit manufacturing deal with German company Puma worth £1billion.
The agreement is worth £100million per year, as City extend their Puma partnership and increase their profits.
City signed with Puma back in 2019 for £65m per year, but that number has now been dwarfed by the new figures that have been agreed.
The previous record was held by City’s rivals Manchester United, who held a £90m per year deal with Adidas.
Liverpool, meanwhile, have agreed a new deal with Adidas for £60m per season, as they revert back to their classic sponsor after five years with the American company.
City’s accounts last year showed that they had earned a Premier League record of £715m in revenue, and their commercial revenue was up by £3.3m, from £341.4m to £344.7m.
City Football Group chief executive Ferran Soriano said of the renewed partnership: "We joined forces with Puma with the ambition to challenge ourselves and go beyond the expectations. We have achieved this and more over the last six seasons.
"Puma have seamlessly integrated into our organisation, and we have enjoyed many historic moments together, engaging fans globally."
Meanwhile, Puma’s chief executive Arthur Hoeld added: "Puma's partnership with Manchester City has been a great success both on and off the pitch.
"Trophies, a perfect stage for our performance products and commercial success were exceptional."
