AC Milan are set to extend their principal partnership with Dubai-based airline Emirates, but the Serie A club's recent fortunes will see them have to accept reduced terms, according to Gazzetta dello Sport. reports, www.sportspromedia.com/.
The club's current deal, worth €14 million (US$15.2 million) a year, plus bonuses, is expiring in June. The new deal is reportedly closer to the €10 million (US$10.8 million) mark, plus bonuses.
Having not featured in the Uefa Champions League since 2014, Milan are being forced to watch on whilst the likes of French top-tier side Olympique Lyonnais have become more commercially attractive. Lyon recently signed a deal with Emirates beginning at the start of the 2020/21 season, worth a reported €20 million (US$20.7 million) per year, plus bonuses.
The future of the Italian club's San Siro stadium could well have impacted the value of the contract. According to local reports, discussions with Emirates included the possibility of naming rights for Milan's new stadium but with uncertainty surrounding the project those talks have a limited scope.
