One of soccer's most storied clubs is reportedly set to sign a new apparel deal with Adidas to the tune of £40 million (around $56.7 million USD) per year.

According to Daily Mail, the Arsenal Gunners are in talks with the Three Stripes to take over the team's kit deal after their current sponsorship with Puma ends next season. While Arsenal's Puma deal with worth a reported £30 million per year, Adidas is prepared to put up more cash to outfit the team.

Puma will have an opportunity to match the offer, but it's also noted that Adidas' number could grow even higher if Arsenal proves successful in the Europa League competition, where it's currently in the quarter-finals.

While the £40 million deal isn't the sport's most lucrative—that distinction belongs to Nike's £120 million-per-year contract with Barcelona—it would be more valuable than those of rivals Tottenham and Manchester City.