Business Insider/Mariana Tormi – Sport Business dailyA new partnership between the Italian football club AC Milan and the sports department of French telecommunications company Orange has been announced.
The partnership will see Orange invest €15 million in AC Milan.
According to the Milanese, the €15m investment will be used to help the club increase its revenue and improve the facilities at its Stadio San Siro stadium.
The deal with Orange is part of a €100 million investment made by Orange last year.
The Italian giants are looking to further improve their facilities, which they will be able to start building in 2018, said Italian Football Federation (FIGC) president Maurizio Abete.
“The football club is one of the most exciting in Europe and we are very pleased to have the opportunity to invest in this new venture,” said Abete, referring to the new partnership.
“We look forward to working with Orange to achieve great results for our fans and the wider Italian football market.”
The deal will be announced in the next few days, with the deal with the French company expected to be completed by the end of March.
AC Milan’s revenue this season was €6.8 million.