Gazzetta dello Sport are reporting that AC Milan and Emirates airline have reached an agreement on their new shirt sponsorship deal. The renewal will be lower than the previous deal falling from 14 million euros to about 10 million euros over a period of 5 years. The significant drop is a result of Milan’s lack of European football. The lack of Champions league exposure is hurting the club’s commercial prospects.
@Gazzetta_it : An agreement would be reached between Emirates and Milan for the renewal that expires in June 2020: The new contract will stipulate that Milan will receive a figure significantly lower than the current 14M€ plus bonus. The new pact provides for about € 10M. pic.twitter.com/7vuLcBTMRs— TeamMilanAC (@TeamMilanAC) February 13, 2020
As we reported earlier here, Milan have a lower shirt sponsorship deal than French side Lyon who are expected to receive about 20 million euros from Emirates demonstrating Milan’s fall from grace. This will be a huge blow for CEO Gazidis who is reportedly lining up a number of commercial deals.