A $840 million kit deal could make Manchester City the Premier League's most profitable football club for the first time in history

• Manchester City could become the Premier League's most profitable club for the first time ever next year, courtesy of a new $840 million kit deal with Puma.
• The 10-year deal, which was signed in February, will see City's profits soar to a club record of $725 million for 2020, according to The Mail.
• That figure would see it draw level with Manchester United's projected figures, which are expected to fall from last year's $734 million following a disappointing past 18 months.
• Both City and United are likely to remain behind Real Madrid, FC Barcelona, and Bayern Munich in Deloitte's annual Football Money League, however.
• Read more of our soccer stories here.
• Visit Business Insider's homepage for more stories.

Manchester City could become the Premier League's most profitable club for the first time ever next year, courtesy of a new $840 million kit deal with Puma.

City was outside of the world's top 20 clubs in terms of annual revenue in 2008, the year in which Sheikh Mansour and the Abu Dhabi United Group took over the club, according to Deloitte's Football Money League.

However, its stock has risen exponentially in the years following the takeover and its subsequent success in the Premier League.

For 2019, Deloitte ranked City as the fifth most profitable club in world football, with a revenue of $629 million, behind only Real Madrid, FC Barcelona, Manchester United, and Bayern Munich.

The Mail now reports that City's latest mega-money kit deal, as well as Manchester United's poor last campaign, could see it draw level with its rival for 2020.

City signed a 10-year $840 million deal with Puma in February that will commence this summer, which in turn will see its annual revenue soar to a club record $725 million, according to The Mail.

United boasted a $734 million revenue for 2019, according to Deloitte, however The Mail now reports that this figure will drop to $725 million for 2020 after a disappointing last 18 months for the club.

Ole Gunnar Solsjaker's side finished 6th in the Premier League last term, and is currently in 7th place this season, already 18 points behind league leader Liverpool.

United is also absent from the Champions League, a competition which could potentially have earned it a maximum of $135 million in prize money alone depending on results, as per 2019's figures.