AC Milan’s current deal with Emirates is due to expire at the end of the 2014-15 season and is said to be worth €11.7m ($14.6m) per season, plus bonuses.
Milan and Emirates today (Monday) announced that the agreement has been extended through the 2019-20 season. Italian news agency ANSA said the deal is worth €85m, rising to €100m dependent on performance clauses.
Emirates last month confirmed it will not renew its top-tier sponsorship contract with Fifa, stating that the terms of a proposed extension did not meet its expectations. The company’s partnership with world football’s governing body is due to expire at the end of 2014. It has been Fifa's airline partner for three World Cups from 2006 through 2014.
Emirates has partnerships in varying capacities with other major European clubs including Arsenal, Real Madrid, Paris Saint-Germain, Hamburg SV, Benfica and Olympiacos.
Milan’s new agreement with Emirates will come as a financial boost to a club that has reportedly been seeking fresh investment for some time. Milan finished eighth in Serie A last season, failing to qualify for Europe, and currently sits sixth in the 2014-15 table.