ARSENAL (Home)
Kit Design - This was the closest kit I could find that allowed me to have white and red sleeves. The colours I selected (left to right) were Red, Red, White.
Sponsor Editor - Here I used 2 text slots for the O and 2 and 1 logo slot for the Nike logo.
Font Type - For the O i used to 3rd font down, the largest font. For the 2 i used the 2nd font down.
Sponsor Layout -
Nike Logo - 8x Zoom
Finished Strip:
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With this design the O2 is pretty small and the badge seems big. There isn't a larger font so thats as big as the O goes. But i've heard of an alternate way, not sure if it works as I haven't tried it yet.
You need to create the Arsenal badge in the sponsor editor (like you did with the Nike logo). And create the O (from O2) in the emblem editor. The emblem editor is larger so you should be able to create a larger O for the O2, and a smaller badge doing it this way.