"Arsenal" signed a new lucrative contract with the airline company "Emirates" © EuroFootball.com

London's "Arsenal" club has signed a new five-year £150 million contract with the international airline company "Emirates".

The name of this airline company will be displayed on the team's shirts until the end of the 2018-2019 season. The club's stadium will continue to be called "Emirates" until 2028.

Negotiations between the London team and the famous company were completed on Friday, and according to Arsenal's chief executive Ivan Gazidis, this contract is a "proof of the club's ambitions".

"This day is important for the team and its fans. The agreement with Emirates is a demonstration of the club's capabilities, ambitions, and partnership with this company," Gazidis reassured.

Under the new contract, Arsenal's account will be credited with an additional £30 million each year.