DigitalBits owes $17m to Inter Milan

The Italian side is looking to terminate its deal with crypto brand over non-payments following crash.

Serie A giant Inter Milan is in talks to terminate its partnership with DigitalBits as the cryptocurrency brand continues to struggle to pay its bills.

A multi-year front-of-shirt deal was agreed with the club in September of last year in a move which highlighted Inter’s willingness to adopt new technologies.

However, DigitalBits has since failed to keep up its end of the bargain, having missed a number of payments following the crypto crash earlier this year.

The Champions League side has now been forced to negotiate an exit clause while also looking for a suitable sponsor to fill the void with around $17m owed to the club.

Inter Milan corporate chief executive Alessandro Antonello said: “[This] has not yet been paid by the sponsor, for which they have provided reasons that our lawyers deem unfounded.

“Negotiations are currently underway to find a friendly resolution to the dispute. At present, it is not possible to predict whether these negotiations will be successful or not. If it is not possible to reach an agreement, the club will consider taking legal action to protect our interests.

“The club has already taken all the necessary actions on the market, initiating several discussions to find a possible new shirt partner through its own commercial structure so that the new partner can take over as soon as possible.”

It remains to be seen whether Inter Milan can find a suitable replacement.

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Written by David Kent

David has more than a decade of sports betting and sports writing experience working with some of the biggest names in the industry. He focuses on articles covering these subjects including how crypto is transforming sportsbooks.

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