London: Arsenal have agreed a £150 million ($239 million, 185 million euros) extension of their shirt sponsorship agreement with Emirates Airlines, the club announced on Friday.
The lucrative new contract, which runs until the end of the 2018-19 season, will be worth £30 million a year to Arsenal.
"This agreement is a testimony to Arsenal's approach and to the capabilities we have developed in recent years, as well as the strength of our partnership with Emirates," said chief executive Ivan Gazidis.
"The original deal with Emirates was a key facilitator of our move from Highbury (Arsenal's former stadium) 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."
Under the terms of the deal, the Emirati company will continue to hold naming rights for Arsenal's north London stadium until 2028.
Sheikh Ahmed bin Saeed Al Maktoum, the chairman and chief executive of Emirates Airline and Group, said: "Arsenal's strong appeal around the globe and ambitious approach to the game parallel our own approach to business, making them a valuable partner for our brand."