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After Losing Arsenal, Puma Signs Record-Breaking Deal With Manchester City

After Losing Arsenal, Puma Signs Record-Breaking Deal With Manchester City

Puma AG Rudolf Dassler Sport (OTC: PMMAF) announced a record-breaking long-term deal with Manchester City.

The German sportswear brand and City Football Group have signed a global long-term partnership worth $860 million that will see Puma supply the reigning English premier League champions, alongside its sister clubs in Australia, Spain, Uruguay and China.

“PUMA’s partnership with City Football Group is the largest deal that we have ever done — both in scope and ambition,” Puma CEO Bjørn Gulden said in a statement.

“We look forward to building the most innovative partnership in football by redefining the sports partnership model both on and off the pitch. We want to maximize on-field performance as well as football culture in areas such as music, gaming and fashion to connect and inspire the fan base of each team.”

Puma is expected to take over Manchester City’s current deal from Nike Inc (NYSE: NKE) in July. The company recently lost its deal with Arsenal, another Premier League team, to rival Adidas AG (ADR) (OTC: ADDYY).

Puma has shown a commitment to being taken more seriously in performance footwear, becoming a legitimate contender in NBA endorsements in the past year.

“This announcement marks the start of an exciting new chapter for City Football Group,” said CEO Ferran Soriano.

“Our relationship with PUMA, covering five City Football Group clubs across four continents, will reset the model for sports partnerships on a truly global scale whilst being locally relevant and authentic for fans around the world. PUMA share our vision for challenging expectations, and we are looking forward to what we believe will be a groundbreaking partnership.”

Related Links: 

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Posted-In: Arsenal Bjørn Gulden City Football Group Ferran SorianoNews Contracts Sports General Best of Benzinga

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