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Manchester City sign new shirt deal

Manchester City has signed the biggest commercial deal in its history, a shirt sponsorship deal with Puma worth £600m over 10 years. It's a marked increase from City's current six year deal with Nike worth roughly £20m a year.

In the Premier League City Football Group's deal is behind only Manchester United's £75m a year with Adidas, while broadly matching Chelsea's £60m a year deal with Nike. Puma is spending big as it seeks to break the dominance of Nike and Adidas in the global sportswear market. Football club deals are particularly valuable because sportswear brands typically keep the lion's share of retail sales.

The contract covers all the clubs in City Football Group except New York City as Major League Soccer has a deal with Adidas covering all the top tier clubs in the States.

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