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.
Sep 23, 2014, 2:22 PM EDT
What would Lampard want? Hard to tell from the weekend’s goal celebration or lack thereof?
Sep 23, 2014, 1:33 PM EDT
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Sep 23, 2014, 12:42 PM EDT
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Sep 23, 2014, 11:43 AM EDT
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Sep 23, 2014, 10:53 AM EDT
Anfield has been Liverpool’s home since 1892, and the new construction is slated to finish in time for the start of the 2016/17 season.
Sep 23, 2014, 10:08 AM EDT
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Sep 23, 2014, 9:06 AM EDT
Hope Solo advocates have been angered by some columns claiming she shouldn’t be playing, while a national pundit gives his take on the story
Sep 23, 2014, 8:09 AM EDT
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Sep 23, 2014, 7:40 AM EDT
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Sep 23, 2014, 12:14 AM EDT
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Sep 22, 2014, 11:28 PM EDT
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Sep 22, 2014, 10:51 PM EDT
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Sep 22, 2014, 10:04 PM EDT
Despite making just sixteen league appearances the last three years, the Gunners manager says Diaby should be commended for his perseverance.
Sep 22, 2014, 8:41 PM EDT
Seattle’s lethal striker is set to cap the best year of his career with a new deal and a raise.
Sep 22, 2014, 7:59 PM EDT
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Sep 22, 2014, 7:07 PM EDT
A dive to end all dives gave the German third division some notoriety.
Sep 22, 2014, 6:26 PM EDT
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Sep 22, 2014, 5:54 PM EDT
The two sides agreed on a multi-year deal as Olsen calls DC United “my family and identity.”
Sep 22, 2014, 5:15 PM EDT
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Sep 22, 2014, 4:36 PM EDT
According to a pair of former players, the old Fulham manager told Brede Hangeland to rub his knee with cheese to reduce inflammation.
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