Arsenal have received a huge fillip to their transfer kitty after agreeing a record-breaking £170 million ($263 million) kit deal with sports manufacturing giants Puma.
The Gunners were negotiating with several kit suppliers over a new deal, with Nike's current seven-year contract set to expire at the end of the 2014 season.
Nike were thought to be interested in renewing the deal, and had an exclusive renegotiation clause, which has subsequently expired, meaning both sides had failed to come to an agreement.
"Nike were keen to work with Arsenal, keen to keep it going, but not at any price," a source told the Daily Mirror.
If the reports turn out to be true, then it ends Arsenal's 20-year relationship with Nike, with the current deal, signed to create funds for the Emirates Stadium, worth a mere £55 million ($85 million) over seven years until the end of the 2014 season.
Arsenal also negotiated with Adidas, but the sports manufacturer pulled out, with Puma now winning the battle.
The reported five-year deal is worth over £30 million a year, according to the Daily Mirror, making it the most expensive kit deal in the English game. It is worth much more than Liverpool's £25 million-a-year ($38 million) contract with Warrior.
The news is sure to further strengthen Arsenal's financial position, following their lucrative £150 million shirt sponsorship deal with Emirates.
Arsene Wenger reportedly has over £70 million ($108 million) to spend this summer, with the likes of Stevan Jovetic and David Villa some of the big names to be linked with the club.
Jovetic is expected to cost Arsenal in excess of £20 million ($31 million), which would easily top Arsenal's transfer record. Several reports have suggested Arsenal have already opened talks over a move for Jovetic with Fiorentina.
Villa is also being looked at by Wenger, with the manager failing to sign the Spanish international in the January transfer window.
The Barcelona striker's agent has reportedly made Arsenal aware of the 31-year-old's availability in the summer, but it remains to be seen whether Wenger will make another move, although AS did recently report that a pre-contract had already been agreed with Villa.
Arsenal are also in the market for a goalkeeper and defensive midfielder, while a right-back might arrive depending on whether Bacary Sagna, who only has one year remaining on his contract, leaves at the end of the season.
