Soccer -Serie A picks Eni as title sponsor, ends partnership with TIM

Italy's top flight soccer league Serie A has picked energy group Eni as its new title sponsor, ending a partnership with Telecom Italia (TIM) that had been in place for more than two decades. The Italian energy firm offered 22 million euros ($23.6 million) per year to become the new sponsor of Serie A for the next three seasons, one of the sources said.

Italy's top flight soccer league Serie A has picked energy group Eni as its new title sponsor, ending a partnership with Telecom Italia (TIM) that had been in place for more than two decades.

The Italian energy firm offered 22 million euros ($23.6 million) per year to become the new sponsor of Serie A for the next three seasons, one of the sources said. In a statement, Eni confirmed its unit Enilive, which operates over 5,000 roadside service stations in Europe, will be the sponsor starting from the 2024/25 championship and covering three seasons.

The deal includes an option for two further seasons, according to the sources. Reuters reported last month Serie A was seeking to sign a more lucrative deal once the existing three-year agreement with TIM expires in June.

Under such a deal, TIM paid the league about 20 million euros annually to tie its brand to the main Italian soccer championship. In recent talks with Serie A, TIM showed little appetite for improving financial terms as CEO Pietro Labriola is on the hunt for savings as part of a restructuring effort, sources have previously said.

TIM has been title sponsorship partner of Serie A since the 1998/1999 season. ($1 = 0.9320 euros)