AC Milan extended its sponsorship deal with Dubai-based airline Emirates for another five years on Monday, a “welcome financial boost for the fading club” which has sold off its top players over the last few years, according to Brian Homewood of REUTERS. AC Milan co-CEO Barbara Berlusconi, alongside Emirates President Tim Clark, did not reveal the value of the new deal, but it was “widely reported by Italian media” to be worth €100M ($125M). Berlusconi said, “We're a solid club and an important international brand” (REUTERS, 12/1). The AP reported the previous deal, which was worth €11.7M ($14.6 M) per season, plus bonuses, was due to expire next year. It’s “clearly a much-needed cash boost” for Milan. Berlusconi: “It will be a big help for the next transfer campaigns and for the future of Milan. … We want to return to the Champions League as soon as possible” (AP, 12/1). FOOTBALL ITALIA wrote Berlusconi indicated Emirates "could help the club with construction" of a new stadium. The Diavolo have "been looking at following in the footsteps" of Juventus, by building and owning their own stadium, and Berlusconi confirmed that Emirates -- which has the naming rights for Arsenal’s stadium -- could help with the plans. Berlusconi: “For a club like Milan, stadium ownership is essential. San Siro is wonderful, but football is constantly evolving, and our goal is to one day own our own stadium. … We are evaluating different locations, we want to continue this project and involve Emirates in the new plans. It would be nice to work together on a new stadium.” Clark indicated that the company "could be open to such a deal." Clark: “Anything is possible. ... I think we’ll talk with the club and see whether there’s a chance we could bid for the contract [for the naming rights]” (FOOTBALL ITALIA, 12/1). In a separate piece, FOOTBALL ITALIA reported Berlusconi and Clark confirmed that “significant bonuses were included” in the deal. Berlusconi: “For privacy, and out of respect for our two companies, unfortunately I cannot disclose the numbers involved in the deal, I can only confirm that it will run until 2020. There is a fixed amount and a variable amount, as always in these types of deal” (FOOTBALL ITALIA, 12/1).
