AC Milan sign Asian sponsorship deal
Milan - Chinese-owned AC Milan announced on Monday the signing of a sponsorship deal with online betting platform Vwin, as the Serie A club bids to expand into Asian markets.
As part of the multi-year partnership, Vwin will work with the club to help launch customised marketing campaigns in Asia, the Italian club said in a statement.
Six-time defending champions Juventus agreed a similar partnership deal with Vwin last January.
"We're proud to welcome Vwin, leader in the online betting industry in the Asian territory, in AC Milan's family of partners," Milan chief commercial officer Lorenzo Giorgetti said.
"Vwin is our first Regional Partner in Asia," Milan added in a statement. "This agreement represents a first and important step in the development of our commercial strategy on this key market."
A Chinese-led consortium purchased the club from Silvio Berlusconi for 740 million euros ($886 million) last April.
New owner Li Yonghong then funded a 230-million-euro spending spree last summer but it has failed to produce immediate results on the pitch.
Milan have slipped to 11th in the Italian league, 23 points behind leaders Napoli and some way back from the European aspirations of their new owners.