Jan 27, 2014, 9:37 AM EDT
Reuters is reporting that Arsenal have penned a $247.5M (£150M) deal with Puma to become the new kit supplier for the club over the next five years.
Arsenal’s deal with the German sportswear company on Monday signifies an end to the Gunners 20+ year devotion to Nike.
While specific financial details were not disclosed Puma admitted the deal was the biggest ever for both itself and Arsenal, and that the German manufacturer will also produce other branded Arsenal merchandise. In 2012, Arsenal signed a contract renewal with Emirates airlines for shirt and stadium sponsorship worth approximately $250M (£150M) over five years.
The agreement represents a massive coup for Puma, whose new CEO Bjoern Gulden, a former professional soccer player and Adidas AG executive, is attempting to re-establish the label as a core sports brand after spending the last decade diverging its line into lifestyle and fashion. Arsenal is the latest sports entity to pen a deal with Puma following Olympic sprinter Usain Bolt, golfer Rickie Fowler and several soccer players, including Barcelona’s Cesc Fabregas and Arsenal’s Olivier Giroud.
Since his hiring last year, Gulden has spent streamlined Puma’s business by cutting costs, rationalizing retail outlets and reducing infrastructure. The major reorganization process has already cost the company $246M in 2012 and $178M through the third quarter of 2013.
“Now we will focus on performance and we will use our assets from performance [sports] in lifestyle advertising,” Gulden told The Wall Street Journal Monday. “It is more about using the asset base rather than adding to it.”
Arsenal’s new uniform will be unveiled next summer and a full range of Puma’s new product lines will go on sale starting next year.
Mar 11, 2014, 9:43 PM EDT
Gunners prospect could soon be locked into an international career with Germany.
Mar 11, 2014, 8:56 PM EDT
Champions League was Milan’s last battle. Now, two months of auditions for next year’s team begin, with Seedorf decide who will return for the Rossoneri’s restart.
Mar 11, 2014, 8:06 PM EDT
Over the course of two legs, Arsenal was outshot 41-15 and had only 27 percent of the ball.
Mar 11, 2014, 7:02 PM EDT
Legacy didn’t matter, Costa is ready for your love, and Atlético improved but imperfect.
Mar 11, 2014, 6:34 PM EDT
Another sickening blow for Holden, who suffers knee ligament damage after latest comeback game goes horribly wrong:
Mar 11, 2014, 6:17 PM EDT
With the Gunners falling at the first UCL knockout hurdle once again, what did we learn this time?
Battling Arsenal bow out, as Bayern Munich reach UEFA Champions League quarters after 1-1 draw (3-1, agg.)
Mar 11, 2014, 5:42 PM EDT
Defending champions Bayern down Gunners to reach quarterfinals of Champions League:
Mar 11, 2014, 5:38 PM EDT
With seven goals in five Champions League games, Costa has led Atlético into the quarterfinals.
Mar 11, 2014, 4:44 PM EDT
Three Vancouver Whitecaps take their place in the first week’s Best XI.
Mar 11, 2014, 4:03 PM EDT
Japanese youngster traveled with squad to Munich… then Arsenal found out he was ineligible:
Mar 11, 2014, 2:55 PM EDT
Nick Rimando snared the league’s honor, but the Dancing Bear claims PST’s first weekly award.
Mar 11, 2014, 2:02 PM EDT
Can the Gunners go on the road and beat Bayern 2-0 for a second-straight season in the UCL?
Mar 11, 2014, 1:20 PM EDT
American investment company now owns 25 percent of United’s total shares on the NYSE:
Mar 11, 2014, 12:43 PM EDT
Newcastle boss full of remorse after unsavory incident lands him in hot water:
Mar 11, 2014, 12:09 PM EDT
Pardew reprimanded by the FA, is his ban long enough?
Mar 11, 2014, 11:40 AM EDT
German youth international, eligible to play for the USMNT, set to extend stay with Arsenal:
Mar 11, 2014, 10:46 AM EDT
Ankle sprain is “a very rare and unique injury, and we are trying to treat it as well as possible.”
Mar 11, 2014, 4:55 AM EDT
Milan’s failed to turn its season around, with Atlético has stabilized after a February swoon.
Mar 11, 2014, 3:47 AM EDT
Bayern’s lost twice in the last 12 months – once to Arsenal. The holders will look to avoid a repeat of last year’s visit.
Mar 10, 2014, 10:32 PM EDT
There’s also a freshness under Mastroeni, who oozes the respectability that comes from a distinguished career.
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