The north London club's existing five-year partnership with Puma, worth £30m a year, comes to a conclusion at the end of the 2018/19 season and Adidas are heavily tipped to take over when the deal expires.
There have been suggestions that Adidas could be willing to pay more than £50m a year to see off strong rival interest from Nike. And now the German giants have come very close to the deal they wanted.
Should that happen, it would be the first time since 1994 that Adidas have been Arsenal's official kit sponsors.
There has been plenty of excitement on social media.
Here's a selection of what's been said on Twitter during the past couple of months.
https://twitter.com/ReggieMcTekks/status/979303421802156032
https://twitter.com/sambeattie4/status/979301155015614464
https://twitter.com/ArsenalMan_/status/979297224424275968
https://twitter.com/GoonerViews/status/979293898425106432
