Inter Milan: "Agreement with Nike for renewal of retail and licensing rights" (A. Antonello, CEO)

"We have finalised an agreement with Nike for the renewal of retail and licensing rights, starting from November (2019). It's a very important phase because it will open up new frontiers and allow us to explore new markets. It’s an important opportunity for growth, something which represents a pillar for all major European clubs," said Alessandro Antonello, CEO of FC Internazionale Milano (Serie A TIM), during the club's shareholders' meeting on 28/10/2019.

This new agreement should enable Suning, Inter's majority shareholder since June 2016, to directly manage the distribution of the club's products in China. Nike has been the equipment supplier of the Milanese club since 1998. The contract between the club and the American brand until 2023 is worth an estimated €18.1m per season.

Inter Milan posted a turnover of €417m for the financial year 2018-19 (from 01/07/2018 to 30/06/2019), up 20% compared to 2017-18 (€347m). This growth is partly explained by the club's increased sponsorship revenue, which generated €138m (+9%), including €97m collected through regional agreements signed…