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Last Updated: Friday, 8 August, 2003, 13:23 GMT 14:23 UK
Arsenal sign new kit deal
Nike sponsor Arsenal's kit
Nike have sponsored Arsenal since 1994

Arsenal have secured a 130m windfall from a new kit sponsorship deal with Nike which should remove all doubts over the plans to build a new 60,000 capacity stadium.

The deal is spread over 10 years but a key factor is that Nike have agreed to hand over a lump sum of 55m in July 2006 when the Gunners intend to move into their new home at Ashburton Grove.

Arsenal's move from Highbury was recently put back by a year, with costs expected to rise to around 400m.

And building work has been stopped while the club negotiates the purchase of a myriad of small businesses around the proposed site.

However, the club are still hopeful of starting work at Ashburton Grove again in September.

Arsenal's current deal with Nike is worth 5.7m annually, but the new agreement has increased that figure by nearly 8m.


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