October 26 – After almost 20 years AC Milan have agreed with Adidas to end their technical sponsorship deal early at the end of the 2017/18 season.
The club said in a statement that the new technical sponsor will be announced in the coming months and that it has already signed a brand-new agreement with a sports manufacturer for a global technical sponsorship and dual branded licensing partnership that will start from 1 July 2018.
Puma are believed to be the new partner with Italian press estimates saying the AC Milan deal is likely to be worth about €15 million a year to club but will have a strong element of success-based incentives factored into the deal. Adidas were believed to be paying €20 million a year
Arsenal agreed a five-year deal with Puma in 2013 worth £30 million a year. AC Milan will will need to ensure Champions League qualification to get close to that. AC Milan is no longer at the level where it can command the €75 million-plus deals of Manchester United, Barcelona and Real Madrid.
AC Milan had been with Adidas since July 1998 and in that time had won 12 trophies: 2 UEFA Champions League, 1 FIFA World Club Cup, 2 European Super Cups, 3 Italian League titles, 3 Italian League Super Cups, 1 Italian Cup. Adidas first partnered AC Milan back in 1978/79, the year of the club’s tenth Italian League title.
AC Milan CCO Lorenzo Giorgetti said that the club’s new kit deal will be “better from an economic point of view.”
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