Arsenal are looking to gain on Manchester United and Chelsea with a new Emirates shirt sponsorship deal that also allows for a sleeve sponsor but it’s still going to leave them some way off the pace.

On Monday morning, Arsenal announced a five-year extension to their partnership with Emirates.

The deal will run to 2023/24, and is reportedly worth a little over £40m-per-year.

Compared to other Premier League clubs, that puts Arsenal in a pretty good place.

According to the Telegraph’s Jeremy Wilson, this is what each of the big-six clubs will earn per year from shirt sponsorship deals:

This isn’t the full story though.

Manchester United and Chelsea, despite already being so high on the list, also make money with training kit deals whereas Emirates get training kit sponsorship as part of their deal.

United have a £15m-per-year deal with Aon for sponsorship of their training kits, bringing their total to £62m.

Chelsea have a similar £10m-per-year deal, putting them at £50m total.

The upside is that Arsenal’s new contract with Emirates will allow them to negotiate a sleeve sponsorship.

There’s no option for a training kit sponsor, but the sleeve sponsor should still bring in at least an extra £5-10m-per-year.

If Arsenal can get £10m or more then they’ll at least be closing in on Chelsea.

The downside is that in Chelsea and Manchester United will both renegotiate their contracts in the next couple of years.

Then they’ll both regain their lead.

Unfortunately, I think that’s just where Arsenal are at right now.

The team aren’t challenging for the Premier League title, and they aren’t even in the Champions League.

Until that changes, I can’t see any shirt sponsors wanting to pay as much as they would for the likes of United.