Tottenham transfer news: Spurs boosted by new £320m shirt sponsorship ahead of Manchester United friendly

Last season’s Champions League finalists have extended their relationship with AIA after partnering up in 2013

Tottenham have announced a new £320 million deal with AIA as their shirt sponsors to ensure they compete with their biggest rivals both on and off the pitch.

Spurs have extended their relationship with the life insurance company on an eight-year deal until 2027.

The £40m per year terms put them level with London rivals Chelsea and their deal with Yokohama tyres in 2015.

Though Manchester United remain ahead in the Premier League on their £50m per year deal with Chevrolet.

The deal will go a long way to boosting their position in the transfer market while they contend with loan repayments for their new £1 billion stadium.

After securing a world-record £113m profit for the 2017-18 season, Spurs have finally splashed the cash this summer.

With the £53.8m arrival of Tanguy Ndombele the centrepiece, though Mauricio Pochettino could yet welcome in more new faces.

“If I’m honest, we don’t feel the pressure (to compete with Premier League rivals),” said chaiman Daniel Levy.

Tanguy Ndombele is presented at Tottenham’s Enfield training ground (Getty)

“Our view is wherever we can, we will improve the team.

“We have embarked in recent years on two very major capital projects, which I think in the long-term will be of great benefit to the club.

“We will continue wherever we can to improve the team.”