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Soccer-Serie A explores alternatives to TIM in sponsorship deal talk

Published 25/01/2024, 20:03
Updated 26/01/2024, 07:32
© Reuters. FILE PHOTO: The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi/File Photo

By Elvira Pollina

MILAN (Reuters) -Serie A is exploring potential alternatives to a title sponsorship deal with Telecom Italia (BIT:TLIT) (TIM) whose brand has been tied with Italy's top flight soccer league for over two decades, sources familiar with the matter said on Thursday.

Serie A is seeking to sign a more lucrative deal once the existing three-year contract with TIM -- the league's title sponsor -- expires in June.

Under such a deal, TIM grants Serie A some 20 million euros ($21.67 million) annually and so far the telecoms firm has showed little appetite in improving financial terms as CEO Pietro Labriola is on hunt for savings as part of a restructuring effort, the sources said.

Beside TIM, other companies including energy group Eni have been in talks with Serie A in recent weeks and are considering a bid for the sponsorship deal, according to the sources.

Eni's sponsorship proposal would involve its sustainable mobility unit Enilive, the sources said.

TIM, Eni and Serie A declined to comment.

Serie A's clubs representatives will gather on Friday to take stock of negotiations at a scheduled meeting in Milan but a decision is not expected yet as talks are ongoing, the sources added.

© Reuters. FILE PHOTO: The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi/File Photo

TIM has been title sponsorship partner with Serie A since the 1998/1999 season.

($1 = 0.9231 euros)

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