It signals the end of Arsenal's five-year association with Puma, which came after spending the previous two decades with Nike. Nike was the manufacturer for Arsenal's "Invincibles" season, when it went an entire league campaign unbeaten in 2003-04.

A £60 million per season deal would put Arsenal third in the most lucrative kit deals in soccer, behind Barcelona's contract with American company Nike and Manchester United's with Adidas which are worth £140 million and £75 million pounds-a-year respectively.

It's reported the new deal is worth £300 million ($391 million) over five years and will run from next season until 2024.

Adidas will take over from Puma, whose five-year contract with the north London club expires at the end of the current season.

Sadio Mane of Liverpool competes with Sadio Mane of Arsenal during the Premier League match between Arsenal and Liverpool at Emirates Stadium on August 14, 2016 in London, England.

The club has not won a Premier League title since then and it's been two seasons since it featured in the Champions League — the top club soccer tournament in Europe. Arsene Wenger stood down as Arsenal manager back in May after 22 years, with Spaniard Unai Emery now in charge.

Arsenal has also undergone other changes in recent months, with American owner Stan Kroenke increasing his majority share from Alisher Usmanov.

The change in kit maker from next season will no doubt bring about more replica shirt sales as teams freshen up their look every year.

"You probably look at somebody wearing a football kit, a replica kit, 10, 20 times more than they wear a normal shirt. So are they getting the value out of it, is it a must have item?" the chief executive of ad agency M&C Saatchi, Steve Martin, exclusively told CNBC in August.

The Adidas influence within the sports teams it represents is becoming more prevalent, as it even chooses to take the lead with its partnerships.

"(Manchester United player Paul) Pogba's probably the best example of where you've seen an unbelievable partnership between the club and the brand," Martin went on to say. "Adidas were the first to reveal that Pogba had actually signed for Manchester United. That was a game changer that had never been done. And that showed the power of the brand working with the power of the club together."

Other sports take a more uniform approach to producing uniforms. Nike manufacture all 32 team jerseys in the NFL, with pre-named branded shirts costing $99. However, should any fan want to put their own name and number on the back of a 2018 shirt, the price jumps to $149.

The exclusive deal between Nike and the NFL was extended in 2018 and will now run until 2028. The athletic brand also has a similar agreement with the NBA to produce uniforms for all of its teams, reports suggesting it's been paid $1 billion to do so for the next decade.