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Pirelli to extend Inter shirt sponsorship

Italian Serie A football club Inter Milan has confirmed that it is close to finalising an extension to its shirt sponsorship deal with tyre manufacturer Pirelli.

The renewal will run for five years, from 2016-17 to 2020-21.

The financial details were not disclosed, but Inter said that the new agreement would entail “a fixed component and a variable one based on the team’s sporting performance.”

The Gazzetta dello Sport newspaper reported that the deal is worth about €9m ($10m) per year plus bonus payments.

Pirelli has been Inter’s shirt sponsor for 20 years.

“This long-standing relationship is based on trust and the close relationship that Inter and Pirelli have built over the many years of their successful partnership which has enabled the strengthening of both brands in Italy and abroad, in particular in such important markets as China,” Inter said.