AC Milan signed a deal with online gambling operator Vwin

Italian football club AC Milan has signed its first official regional partnership in Asia after agreeing a sponsorship deal with online betting company Vwin.

Milan COO Lorenzo Giorgetti said the deal marked an “important step in the development of our commercial strategy in this key market.” Financial terms of the deal weren’t disclosed, while the duration was described only as “multi-year.” Vwin inked a similar partnership with Milan’s Serie A rival Juventus one year ago.

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.

  Follow us on