PSG announce new shirt sponsorship deal with Accor
Paris Saint-Germain are hoping a new shirt sponsorship deal with the French multinational Accor will help them as the Qatar-owned club battle to meet UEFA's Financial Fair Play rules.
PSG announced on Thursday that from next season they will carry on their shirts the logo of ALL, the loyalty programme of Accor, which is one of the world's largest hotel chains and has its headquarters just outside Paris.
However, PSG did not say how long the new deal was for, or how much money they stand to earn from it.
The deal brings to an end a 13-year association with Dubai-based airline Emirates, who also sponsor the likes of Real Madrid, Arsenal, Benfica and Hamburg.
PSG had announced last August that they would not renew their partnership with Emirates -- reportedly worth up to 25 million euros ($28.4m) a year -- beyond this season.
A source close to the club indicated that the new deal could put them in the "top four for the best contracts in Europe", which could mean a sum in excess of 50 million euros a year.
Real Madrid's shirt sponsorship deal with Emirates -- the most lucrative in Europe -- is worth 70 million euros a year.
Accor's CEO is Sebastien Bazin, who was the president of PSG for a spell in 2009.
PSG were listed as the sixth-richest football club in the world in the latest Deloitte Football Money League with revenue of 541.7 million euros in 2018, with Real Madrid top of the list with 750.9 million euros.
The French champions have been under scrutiny from European football's governing body UEFA after splashing more than 400 million euros in 2017 to sign Brazil star Neymar and Kylian Mbappe.
A UEFA investigation into their finances was shelved in June last year before being reopened last September.
PSG reacted by appealing to the Court of Arbitration for Sport (CAS), claiming they had met UEFA's Financial Fair Play demands.
© 2019 AFP