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The agreement is worth £100million per year, as City extend their Puma partnership and increase their profits.
City signed with Puma back in 2019 for £65m per year, but that number has now been dwarfed by the new figures that have been agreed.
The previous record was held by City’s rivals Manchester United, who held a £90m per year deal with Adidas.
Liverpool, meanwhile, have agreed a new deal with Adidas for £60m per season, as they revert back to their classic sponsor after five years with the American company.
City’s accounts last year showed that they had earned a Premier League record of £715m in revenue, and their commercial revenue was up by £3.3m, from £341.4m to £344.7m.
City Football Group chief executive Ferran Soriano said of the renewed partnership: "We joined forces with Puma with the ambition to challenge ourselves and go beyond the expectations. We have achieved this and more over the last six seasons.
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"Puma have seamlessly integrated into our organisation, and we have enjoyed many historic moments together, engaging fans globally."
Meanwhile, Puma’s chief executive Arthur Hoeld added: "Puma's partnership with Manchester City has been a great success both on and off the pitch.