Puma has dramatically increased the worth of its sponsorship deal to kit out AC Milan as the German athletic apparel group broadened its partnership with the Italian soccer champions.
Milan have quite recently won the Italian Serie An association title without precedent for 11 years and U.S. trading company RedBird Capital Partners has consented to purchase the seven-times European champions in a 1.2 billion euro bargain.
“The partnership represents a continuation of the process AC Milan has undertaken to transform themselves to be more than just a football brand,” the Serie A club and Puma said in a joint statement.
No monetary subtleties were given in the explanation, yet it is said that Puma will pay over 30 million euros every year under five-year contract.
Under the current arrangement, Puma, which has been AC Milan’s technical supplier starting around 2018, is paying a yearly charge of around 14 million euros.
As a component of the new deal, which is because of start from Jan. 2023, Puma will have naming privileges to AC Milan’s youth s sector and women’s team sport centre.
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