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.
Apr 20, 2014, 3:53 AM EDT
Dallas stayed at the top of the Western Conference, while Seattle improved to 3-0-1 on the road.
Apr 20, 2014, 2:39 AM EDT
Seattle’s high-priced strike tandem produced another late winner, giving the Sounders their fourth win of the season.
Apr 20, 2014, 1:51 AM EDT
Two huge saves in the final minutes from Nick Rimando keep RSL unbeaten.
Apr 20, 2014, 1:05 AM EDT
Goal difference has the defending champions on top of the Eastern Conference.
Apr 20, 2014, 12:35 AM EDT
Two more goals off set pieces gave FC Dallas its fifth win of the season.
Apr 19, 2014, 10:55 PM EDT
Juan Guzman gave Giancarlo Gonzalez a pass. Columbus came back to claim a draw.
Apr 19, 2014, 10:11 PM EDT
Two separate leads were pulled back as the Whitecaps fought back at BC Place.
Apr 19, 2014, 9:24 PM EDT
NBC’s team on the scene reacts to the day’s big result:
Apr 19, 2014, 8:49 PM EDT
San Jose remains without a win beside playing the second place Rapids to a standstill.
Apr 19, 2014, 7:43 PM EDT
Look back at a Saturday that helped bring clarity to the Premier League’s title race.
Apr 19, 2014, 7:07 PM EDT
Two weeks ago, it was Mike Magee. On Saturday, it was Juan Luis Anagonó who couldn’t covert late from the spot.
Apr 19, 2014, 6:29 PM EDT
Will Bruin and Andrew Wenger came close, but neither were able to keep his team from playing out a scoreless draw.
Apr 19, 2014, 4:15 PM EDT
A host of teams are battling it out to determine who will fill Germany’s European spots. Meanwhile, the rush to avoid the drop continues.
Apr 19, 2014, 3:38 PM EDT
Chicago goes for its first win while New England looks to make it two-in-a-row, and it all starts at 4:00 p.m. ET on NBC/NBC Sports Live Extra:
Apr 19, 2014, 3:20 PM EDT
All the recaps, analysis and video highlights from a sensational Saturday:
Apr 19, 2014, 2:56 PM EDT
Watch Chelsea’s manager implode in the post-match TV interview, as his unbeaten streak comes to an end:
Apr 19, 2014, 2:52 PM EDT
Lazio, Torino and Parma all dropped points, opening a path for AC Milan to push into Italy’s final Europa League spot.
Apr 19, 2014, 2:32 PM EDT
Chelsea lose at home in PL under Mourinho for first time in 77 matches, as Sunderland shock Blues:
Apr 19, 2014, 1:26 PM EDT
Blues and Black Cats locked at 1-1 after nervy first half, watch live online right here:
Apr 19, 2014, 1:07 PM EDT
According to the Fulham manager, if his side win their two remaining home matches, the Whites will stay up.
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