Adidas Prematurely Ends Partnership With AC Milan Soccer Club

GAME OVER: All good things come to an end. After 20 years of partnership, Adidas and the AC Milan soccer club are parting ways, mutually agreeing to prematurely terminate the sponsorship deal at the end of the current season. The agreement between the two parties began on July 1998 after previous partnerships, and was scheduled to run until 2023. AC Milan released a statement on Tuesday thanking the German company for “the consolidated relationship,” which saw Adidas’ trademark three stripes shine on the club’s signature red-and-black jerseys during 12 trophy ceremonies, including two UEFA Champions League titles; one FIFA World Club Cup; two European Super Cups; three Italian League titles; three Italian League Super Cups, and an Italian Cup. AC Milan also said a new sponsor will be named, starting from July 2018. The club confirmed it has already signed a new deal “with a sports manufacturer for a global technical sponsorship and dual branded licensing partnership” but will disclose details only “in the coming months.” According to the Italian press, Puma will succeed Adidas in the role. In the last couple of weeks, Under Armour was also rumored to be on the shortlist of the possible candidates to the sponsorship. The Milanese soccer team has recently

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD http://ift.tt/2y2Pn9G
via IFTTT