Report: Inter Milan enter Pirelli talks looking for increased sponsorship fee

Report: Inter Milan enter Pirelli talks looking for increased sponsorship fee
Italian soccer giants Inter Milan are in negotiations with current shirt sponsor Pirelli as they look to secure a lucrative new deal from 2021, according to Corriere dello Sport.

It is the latest twist in the Serie A club’s search for a new main shirt sponsor with their current deal with the tyre brand set to expire in two years’ time. Last month, it was reported that Chinese real estate group Evergrande could replace Pirelli as Inter owner Zhang Jindong chases revenue growth opportunities for Inter.

The club have partnered with Pirelli since the 1995/96 season and their current deal brings in an estimated €10.5 million (US$11.6 million) per year, but Inter believe a team of their stature should be earning a fee more in line with Europe’s other top clubs. Last week, for example, Serie A champions Juventus renegotiated their deal with Jeep so it was worth a minimum €42 million (US$46.5 million) per year.

According to Correire dello Sport, the Inter hierarchy value their main shirt sponsor at approximately €25 million (US$27.6 million), rising to €30 million (US$33.3 million) with bonuses.

The Rome-based sports newspaper adds that Pirelli is willing to increase the amount it pays the club, but there remains a gap between the two parties’ valuations, with a deal not considered imminent.

If an agreement cannot be reached, Evergrande will likely come back into the picture. The company’s electric car brand, Hengda Hengchi, is already reportedly set to pen a new sponsorship deal with Inter worth €100 million (US$110 million), while the firm has already worked closely with Jindong’s company Suning Holdings Group, which owns the club. 

Inter’s quest for a fresh shirt sponsorship deal follows news that they are set to report record revenues of more than €400 million (US$443 million) up to July 2019, though this was countered by an expected loss, falling in line with UEFA’s financial fair play (FFP) regulations.

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