23 November 2012 Last updated at 07:47 ET
Arsenal football club have signed a new £150m deal with Emirates airline, extending its shirt sponsorship to 2019.
The naming rights to the Emirates Stadium in north London were also extended to 2028 as part of the deal.
In total, the agreement brings in £30m a season for Arsenal in terms of shirt and stadium sponsorship.
The new contract is one of the biggest in football, eclipsing rivals such as Liverpool in terms of revenue earned.
“The original deal with Emirates was a key facilitator of our move from [previous stadium] Highbury and this next phase of our relationship will be just as critical to keep us at the top of the game in England and Europe,” said Arsenal chief executive Ivan Gazidis.
Emirates first signed its sponsorship agreement with Arsenal in 2004, providing the airline with naming rights to its then-brand new stadium until 2021 and a shirt sponsorship that began in the 2006 season.
With wages and costs of running a football club soaring, clubs are looking for more and more ways to earn money to compete on the European stage.
In 2011, Barcelona signed what was then the most lucrative shirt sponsorship deal in the game with Qatar Foundation – worth 30m euros (£24m) a year – but will see its kit feature Qatar Airways from next season. The deal was the first time the Barca kit had featured commercial sponsorship and has riled some fans.
Earlier this year, Manchester United signed a new deal to have US car brand Chevrolet on its shirts for seven years.
The deal, which begins in 2014, is reportedly worth at least £45m a season until 2021.
Liverpool signed an £80m, four-year shirt sponsorship deal with Standard Chartered in September 2009.
Last year, Manchester City signed a 10-year deal reportedly worth £400m with Etihad for the airline’s name to go on both the club’s shirt and the stadium.
BBC News – Business
Arsenal in £150m Emirates deal
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