Tottenham have announced they've signed a new eight-year deal with AIA that will earn them £320m over the next eight seasons.
The club's previous deal was was due to expire in 2022, but the new agreement sees that deal extending their partnership until the end of 2026/27, having sponsored the north London outfit since 2013.
Spurs' new deal was announced on the club's website and matches the £40m-per-year deal Chelsea signed with Yokohama Tyres in 2015, yet is still not a rewarding as Manchester United's arrangement with United States car brand Chevrolet, which is worth about £50m annually.
Daniel Levy, chairman of the club, said this of the deal: “This renewed and extended partnership demonstrates the strength and success of our well-established relationship with AIA and underlines the positive impact we have been able to bring to AIA’s brand and business. We are proud to have the immense support of AIA at such a significant time in the Club’s history."
AIA, one of the world’s leading life insurance companies, will now continue to feature on the front of the club's men's, women's and academy team's as they embark on their first full Premier League season at the newly built Tottenham Hotspur Stadium.
Their £1bn stadium was mostly paid for by loans, yet the club still made a world-record profit of £113m after tax for the 2017/18 season.
With the new stadium providing Mauricio Pochettino's side with the foundation to compete with the best in the league, this latest sponsorship deal is another step in the right direction for last season’s beaten Champions League finalists.
Their new found reserves of cash have been put to good use already this summer, with the club smashing their transfer record to sign Lyon midfielder Tanguy Ndombele for a fee worth £53.8m.
It appears Spurs' spending is not set to ease up anytime soon, with a £45m deal for Giovani La Celso being worked on, while a £20m move for Ryan Sessegnon of fellow London side Fulham is edging closer.
Source : 90min