Soccer -Serie A picks Eni as title sponsor, ends partnership with TIM (updated)
05/02/2024 16:14
(Updates with details and background)
MILAN, Feb 5 (Reuters) - Italy's top flight soccer
league Serie A has picked energy group Eni ENI.MI as its new
title sponsor, ending a partnership with Telecom Italia (TIM)
TLIT.MI that had been in place for more than two decades.
The Italian energy firm offered 22 million euros ($23.6
million) per year to become the new sponsor of Serie A for the
next three seasons, one of the sources said.
In a statement, Eni confirmed its unit Enilive, which
operates over 5,000 roadside service stations in Europe, will be
the sponsor starting from the 2024/25 championship and covering
three seasons.
The deal includes an option for two further seasons,
according to the sources.
Reuters reported last month Serie A was seeking to sign
a more lucrative deal once the existing three-year agreement
with TIM expires in June.
Under such a deal, TIM paid the league about 20 million
euros annually to tie its brand to the main Italian soccer
championship.
In recent talks with Serie A, TIM showed little appetite for
improving financial terms as CEO Pietro Labriola is on the hunt
for savings as part of a restructuring effort, sources have
previously said.
TIM has been title sponsorship partner of Serie A since the
1998/1999 season.
($1 = 0.9320 euros)
(Reporting by Elvira Pollina
Editing by Keith Weir)
((elvira.pollina@thomsonreuters.com;))