Arsenal’s biggest January signing: Puma

Many Arsenal supporters are hoping their manager Arsene Wenger announces a new striker this week as the January transfer window nears its end, yet today saw the London soccer club formally announce a new multi-million pound sponsorship deal with Puma.

"The Gunners," who currently sit at the top of the U.K.'s Premier League table, have had their kits made by Nike for the last 20 years, yet the north London side have now switched from an American supplier to a European one, in a deal estimated at £30 million a year over a five-year period.

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Starting from July 1 this year, Germany's Puma will produce the playing and training kit for all Arsenal teams, with the Herzogenaurach-based brand also acquiring licensing rights to develop other Arsenal branded merchandise.

It is the biggest deal in both Puma and Arsenal's histories. Both brands will see the benefit in the deal for increasing access to international sales and expanding the Arsenal fan base.

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Puma said it is now defining itself as the "clear number three football brand" (behind Nike and Adidas), with the European make now supplying kits for Borussia Dortmund, and increasing its player portfolio to include big soccer stars such as Sergio Agüero, former Arsenal player Cesc Fàbregas, Mario Balotelli, Radamel Falcao, Olivier Giroud and Yaya Touré.

Puma's chief executive officer Bjoern Gulden said in a statement: "Arsenal have been a key strategic target for Puma for a number of years now.

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"As we enter a new era in our company history, Arsenal represents a major commercial and marketing opportunity to reinforce Puma's credibility as a global sports brand, and we have full confidence the plans in place to activate this partnership will have a significant global impact."

—By CNBC's Kiran Moodley. Follow him on Twitter @kirancmoodley