Soccer-Serie A explores alternatives to TIM in sponsorship deal talk
Reuters
Published Jan 25, 2024 20:03
Updated Jan 26, 2024 07:32
By Elvira Pollina
MILAN (Reuters) -Serie A is exploring potential alternatives to a title sponsorship deal with Telecom Italia (BIT:TLIT) (TIM) whose brand has been tied with Italy's top flight soccer league for over two decades, sources familiar with the matter said on Thursday.
Serie A is seeking to sign a more lucrative deal once the existing three-year contract with TIM -- the league's title sponsor -- expires in June.
Under such a deal, TIM grants Serie A some 20 million euros ($21.67 million) annually and so far the telecoms firm has showed little appetite in improving financial terms as CEO Pietro Labriola is on hunt for savings as part of a restructuring effort, the sources said.
Beside TIM, other companies including energy group Eni have been in talks with Serie A in recent weeks and are considering a bid for the sponsorship deal, according to the sources.
Eni's sponsorship proposal would involve its sustainable mobility unit Enilive, the sources said.
TIM, Eni and Serie A declined to comment.
Serie A's clubs representatives will gather on Friday to take stock of negotiations at a scheduled meeting in Milan but a decision is not expected yet as talks are ongoing, the sources added.
TIM has been title sponsorship partner with Serie A since the 1998/1999 season.
($1 = 0.9231 euros)
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Written By: Reuters
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