Rossoneri have been sponsored by giants for over three decades.
AC Milan have announced that they have extended their partnership with Adidas through to 2023, with an additional six-year deal being agreed on their current contract.
The German brand previously had a deal to provide both the match-day kit and training gear until the end of the 2016/17 season, but have confirmed that another six year deal has been agreed to extend their partnership.
“From today, we are AC Milan 2023. Milan and Adidas, after a glorious past together are now panning the future,” Milan’s press release read, according to Football Italia.
The news was confirmed on Wednesday afternoon in a press conference with the likes of Mattia De Sciglio and Kaka present, although the financial aspects of the deal have yet to be revealed.
It is understood that the previous deal which ran until 2017 was worth €14m to the club, but with vice-president Adriano Galliani looking to exploit commercial deals to their full potential it is expected that the figure will rise for the additional years.
In a special feature from La Gazzetta dello Sport last month, the pink paper claimed that the Rossoneri were already amongst the top earners in terms of kit deals, and this will only further strengthen their financial position in comparison to their rivals.
Nevertheless, much will of course depend on their success on the pitch as they are currently suffering from an indifferent start to the season.
Similarly to last year, Massimiliano Allegri’s side have seen a significant gap emerge between themselves and their rivals for a top three finish, and they will hope to put together a run of form after the international break with several injured stars returning to action.
— adidas_ITA (@adidas_ITA) October 9, 2013