CHAMPIONS LEAGUE
How much will Inter Milan earn for having Paramount+ as shirt sponsor for the Champions League final?
The Nerazzurri will take to the field against Manchester City with the same sponsor that they wore for their final Serie A fixture.
Inter Milan will be sporting the name of ‘Paramount+’ on their jerseys for the Champions League final after their previous sponsor failed to fulfil their contract.
After severing ties with cryptocurrency company DigitalBits, Inter Milan will take to the field at the Atatürk Olympic Stadium with Paramount+ on their shirts. The Nerazurri also wore the logo of the North American company in their last Serie A match against Torino.
Inter recently stopped displaying the DigitalBits logo after a breach of contract from the firm. The brand promised to pay $80 million for the right to advertise on the Italian side’s shirt but they failed to make payments at the agreed time. Simone Inzaghi’s team played the Champions League semi-finals against AC Milan without any shirt sponsor due to the default.
Now, prior to their biggest game in a decade, Inter have managed to strike up a deal with Paramount. The agreement with the American firm will bring them $4.5 million for this final alone, but that is not the end of their two entities’ collaboration.
The New York Times reports that the agreement continues into the next campaign, but in a less visible position. For an additional $4.5 million the Italian side will sport ‘Paramount+’ on the back of their shirts for the next year.
This modest sponsorship deal gives Inter some much-needed cash as they battle with financial issues. They are thought to have an operating debt of close to $1 billion and are expected to be forced to sell players this summer to keep afloat, regardless of the result against Manchester City.
In 2016 a Chinese investment group paid around €300 million for 70% of the club but they have failed to turn Inter into a profitable entity.. Seven years later the financial situation has only worsened and the owners want to sell the club. According to La Gazzeta Dello Sport, they value it at €1.2 billion, the same amount that was paid for city rivals AC Milan last year.