Milan signs long-term Puma deal after cutting ties with Adidas
A change of ownership has now brought a change to AC Milan's sportswear.
The seven-time European champion confirmed Puma as the club's new kit supplier on Monday, agreeing to a "long-term partnership" with the world-renowned manufacturer.
"We are very proud to be partnering with AC Milan," Puma CEO Bjorn Gulden said in a statement. "They are one of the most successful clubs in football history with a large, global fan base, and the team and their fans show the true spirit of football. If you ask me, the Rossoneri jersey is one of the most iconic jerseys in football."
Adidas and the Italian giant prematurely terminated their 10-year, €200-million contract last October to open the bidding process. Adidas had sponsored Milan since 1998, a decorated run featuring three Scudetti, a pair of Champions League titles, one FIFA Club World Cup, and one Coppa Italia.
The deal with Puma is worth between €10 million and €15 million per season, according to La Gazzetta dello Sport, which is significantly less than the windfall from Adidas.
The decision to part ways with the German manufacturer came amid doubts over the club's financial backing. Chinese investor Yonghong Li completed the takeover for €740 million last April, but not without a significant loan from American hedge fund Elliott Management.
Milan joins Arsenal and Borussia Dortmund as the most prominent European clubs in Puma's portfolio.