AS reports that Atlético’s kit sponsor since 2005, KIA motors, will not be extending their deal with the club after the current season.
The Korean automobile manufacturer, which also sponsors FIFA in an agreement set to expire in 2022, is no longer willing to pay the roughly €10m per year cost of having its logo appear on our jerseys.
The termination of this commercial relationship represents a significant loss of income for next year. Atlético officials are said to be searching for an agency to perform the task of finding our next shirt partnership, and are hoping to get a better deal than the current one with Kia.
Barcelona recently sealed a controversial deal with future kit sponsor Qatar Foundation for a record of €165m for five years, amounting to €33m per season of extra pocket money for the Catalan giants.
Back in 2007, KIA personnel were said to have been disappointed with Atleti players for not abiding by the terms of the sponsorship agreement, as many rode into the team’s training facilities in their Ferraris, Lamborghinis, Mercedes, Audis, BMWs and the like, as opposed to the KIA cars issued to the team as part of the club’s contract with the auto manufacturer.
At the time, Maxi Rodríguez and Sergio Agüero were said to be among the handful of players that would drive their KIA Sorentos to the Majadahonda facilities.