Emirates to end sponsorship of Paris St Germain - report
Ligue 1 champions Paris St Germain are set to lose long-term sponsors Emirates after the Dubai based airline said that the company would not renew its contract which expires next year, a media report has said.
Emirates has been a shirt sponsor of PSG since 2006, five years before the club was bought by Qatar Sports Investments, a state-backed body founded by the emir of Qatar, Sheikh Tamim bin Hamad Al Thani.
- UEFA reopens investigation into Paris St Germain’s finances
- Football Leaks: Mbappe's astonishing 'special requests' denied by PSG revealed
- PSG appeal against decision to re-open investigation into its finances
PSG, one of the richest soccer teams in the world, are seeking a more lucrative sponsorship deal, a club spokesperson told Bloomberg. The current deal with Emirates is reported to be worth around €30 million a season.
Emirates and PSG did not immediately respond to a Reuters request for comment.
The French club may be seeking more income to offset the record €222 million transfer of Brazilian forward Neymar from Barcelona last year, which was followed by a deal for French teenager Kylian Mbappe worth a reported €180 million.
France's forward Kylian MBappe poses during a photo session after an interview with AFP in which he announced the formalization of his Ambassadorship with the Swiss luxury watchmaker Hublot on November 8, 2018Getty Images
PSG were this week named in the 'Football Leaks' documents which showed they had inflated sponsorship revenues to meet the requirements of European soccer body UEFA's rules on financial fair play (FFP).
The documents were obtained by the German publication Der Spiegel and reviewed by Reuters in partnership with European Investigative Collaborations, a consortium of international media.
UEFA's Club Financial Control Body announced in September it had reopened an investigation into whether PSG had flouted FFP regulations.
The United Arab Emirates was part of a quartet of Arab countries to place a trade and travel embargo on Qatar last year.