FILE PHOTO: The Tim logo is seen at its headquarters in Rome, Italy November 22, 2021. REUTERS/Yara Nardi/File Photo
MILAN (Reuters) - Serie A is exploring potential alternatives to a title sponsorship deal with Telecom Italia (TIM) whose brand has been tied with Italy's top flight soccer league for over two decades, sources familiar with the matter said on Thursday.
Serie A is seeking to sign a more lucrative deal once the existing three-year contract with TIM -- the league's title sponsor -- expires in June.
Under such a deal, TIM grants Serie A some 20 million euros ($21.67 million) annually and so far the telecoms firm has showed little appetite in improving financial terms as CEO Pietro Labriola is on hunt for savings as part of a restructuring effort, the sources said.
Beside TIM, other companies, including energy group ENI have been in talks with Serie A in recent weeks and are considering a bid for the sponsorship deal, according to the sources.
TIM, and Eni declined to comment. Serie A was not immediately available to comment.
Serie A clubs representatives will meet on Friday to take stock of negotiations at a scheduled meeting in Milan but a decision is not expected yet as talks are ongoing, the sources added.
TIM has been title sponsorship partner with Serie A since the 1998/1999 season.
($1 = 0.9231 euros)
(Reporting by Elvira Pollina, editing by Pritha Sarkar)
