Argaam: Milan to earn €12m from new Al Hammadi agreement – the details

AC Milan and Al Hammadi Holding recently announced the launch of a long-term collaboration, and it will see the club earn a bit of money too.

This morning, Milan announced that they had agreed a partnership with Al Hammadi Holding, based around the MilanLab. The goal is to promote innovation in sports medicine in Saudi Arabia and contribute to the Saudi Vision 2030 goals in the areas of health, wellness and skills development.

Located in the Milanello training complex, MilanLab was founded over 20 years ago with an emphasis on physical, mental and biochemical data to prevent injuries, extend player careers, and aid decision-making.

As MilanNews relay, Argaam.com – a financial news portal in the Arab world – have reported some details of this new collaboration. Milan and Al Hammadi Holding have signed a strategic cooperation agreement worth 54.5 million Saudi Riyals, or just over €12m.

The agreement is structured as a multi-year project ending in June 2033, therefore a seven and a half year deal. and the total value of the contract will be paid in scheduled instalments over the duration of the agreement.

While it might not quite bring in the same amount as deals like those with PUMA and Emirates, it is still a nice income boost for Milan who continues with their strategy of global brand expansion.