March 15 – The on-off rumours that Pirelli were to end their 20-year sponsorship of Inter Milan have been ended with the club officially announcing that they had agreed a new five-year deal.
No figure has been released for the deal but the club said: “The new five-year deal comprises a fixed amount and a variable figure based on the results of the first team.”
Market estimates are that the sponsorship is worth a minimum of €10 million a season (in comparison with the current one reportedly worth €14 million a season) but also includes large bonuses for the Milan club based on results – potentially doubling in the event Inter win the Champions League in the next five years.
Pirelli has been on the front of Inter shirts since 1995 and is one of the longest and most successful partnerships in the history of top European clubs.
“Together Inter and Pirelli have won silverware at home and abroad,” said Inter president Erick Thohir.
“We are proud to announce the continuation of a partnership that is both rooted in our glorious past and looking forward. Together, we want a more global and successful future for Nerazzurri fans all over the world. Continuity and tradition are the hallmarks of this renewed partnership which – a few days on from our 108th birthday – places our passion and determination to excel on and off the pitch at the heart of our shared project.”
The new agreement will help further develop the two brands both in Italy and abroad, particularly in a significant market like China.
A key element of the new deal is development of the brands, especially into overseas markets like China.
Marco Tronchetti Provera, Pirelli’s executive vice chairman and CEO, said:“The extension of our partnership with Inter reaffirms our convergence on targets, strategy and our desire to compete, which have underpinned our 20-year association and will continue to do so going forward.
“Pirelli are a global player and the passion that a historic club like Inter generates in the hearts of fans all over the world is an important asset in maximising our brand.”
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