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    Arsenal renew sponsorship deal with Emirates

    London: English Premier League side Arsenal have renewed their shirt sponsorship deal with Dubai-based carrier Emirates Airline EMIRA.UL in a 5-year agreement worth 150 million pounds. The shirt agreement runs until the end of the 2018-19 season and Arsenal's home will continue to be known as the Emirates Stadium until 2028, the English club said on Friday.

    Emirates have had their name on Arsenal's famous red shirts since the 2006/07 season.

    "The original deal with Emirates was a key facilitator of our move from 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.

    Shirt sponsorships are increasingly lucrative for top European soccer clubs.

    This summer Arsenal's rivals Manchester United signed a $559 million deal with General Motors (GM.N) to have the Chevrolet brand on their shirts for 7 years from 2014.