Inter Milan signed a new lucrative deal with Zytara Labs for DigitalBits to become their sleeve sponsor in September 2021. The multi-year partnership was for a reported €85 million. However, the Nerazzurri later upgraded the partnership to their front-of-shirt sponsorship deal replacing Socios.
DigitalBits is a company dependent on the crypto market for their influx of cash and have reportedly felt the after-effects of the downfall in the crypto market. There is a growing list of firms that have suffered due to the volatility of the crypto market.
The sponsor has reportedly faltered in making payment of an installment under the partnership to Inter Milan. The company can still come up with the cash for Inter Milan, however, the situation hardly calls for confidence in the firm.
Inter Milan is considering the initiation of legal proceedings against the firm in relation to their sponsorship agreement. The Nerazzurri is also prepared to remove DigitalBits from their shirts and employ the same treatment for the firm with the Women and Youth teams of the club. A change of sponsor is the last resort for Inter Milan and has not been ruled out completely.
Inter Milan is in dire need of the amount to facilitate signings
The club is already in a difficult position financially and has issued bonds to pay off debts. Furthermore, the squad is short of a defender as explained by Simeone Inzaghi in multiple interviews. Inter Milan desperately needs the funds to facilitate an acquisition in the defensive department.
The Nerazzurri wanted to sign Gleison Bremer from Torino to fill the gap. However, the Brazilian signed up for fierce rivals Juventus earlier this summer. Inter Milan will need to spend big in the closing stages of the transfer window to fill the gap at the back.
Thus, the sponsorship issue holds more importance than it seems for the Italian giants. It will be interesting to see if Inter Milan will be able to draw out the money or if will they have to resort to legal action against the firm!
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