Manchester City have extended their kit partnership with Puma for at least another 10 years, with the contract understood to be worth a minimum of £1bn, making it the largest deal in the Premier League.

City initially signed a £65m-a-year deal with the German kit manufacturer in 2019, but the parties have agreed an extension until at least 2035, worth a record £100m a year to the club.

That figure surpasses the £90m deal signed by rivals Manchester United with Adidas in 2023, while champions Liverpool will also be with the same manufacturer from this season after agreeing a reported, external £60m a season.

City have enjoyed an unprecedented period of success since 2019, claiming four Premier League titles as well as the Treble two years ago, but finished last season without a major trophy.

The two parties have achieved club record sales globally, according to City.

In their accounts up to 30 June 2024, City announced a Premier League record revenue of £715m, while commercial revenue increased from £341.4m to £344.7m.

City Football Group (CFG) chief executive Ferran Soriano said: "We joined forces with Puma with the ambition to challenge ourselves and go beyond the expectations. We have achieved this and more over the last six seasons.

"Puma have seamlessly integrated into our organisation, and we have enjoyed many historic moments together, engaging fans globally."

Puma chief executive Arthur Hoeld added: "Puma's partnership with Manchester City has been a great success both on and off the pitch.

"Trophies, a perfect stage for our performance products and commercial success were exceptional."

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Brand Finance, external head of sports services Hugo Hensley told BBC Sport: "Brand Finance's fan research, conducted in June in 14 markets, shows that Manchester City are the sixth most followed team globally and among a top echelon of 15 clubs that carry a true global appeal.

"The £100m-a-year kit deal with Puma is a huge amount of money but I would feel they are doing it with a strong knowledge of the return on investment that it has generated so far - through increased brand consideration, purchase, loyalty and price premium attached to their products.

"A huge part of the investment in this partnership is about the exposure it generates - management will be hoping it helps Puma at the top of the customer funnel by improving awareness and familiarity.

"Out of the top 10 clubs featured in this year's most valuable brand rankings, City has the joint-highest percentage of fans who have claimed to have purchased merchandise (70%), level with Real Madrid. This is a key market that Puma are hoping to tap into, given the strong propensity for fans to purchase new replica kits on an annual basis.

"As the top English football club brand, City are excelling not only in on-field success but also in brand value and strength. In 2024, Manchester City's brand value rose 7% to £1.39bn, placing them second only to Real Madrid and ahead of major competitors such as Barcelona (£1.3bn), Manchester United and Liverpool (both £1.21bn). That is a massive achievement.

"Puma's long-term commitment acknowledges the firm belief that City will continue to dominate on and off the pitch for many seasons to come. On this trajectory of current commercial growth across the Premier League, the £100m price tag could soon be a bargain."