According to numerous press reports that Adidas declined to confirm, the Big a will stop sponsoring AC Milan in 2018 or 2019, after the expiration of a 20-year-old contract that pays the strong Italian Series A football club €19.7 million per year. Under Armour and New Balance are said to be the most logical successors as Nike already sponsors another Milan team, Inter. AC Milan, which was recently acquired from Silvio Berlusconi by a Chinese consortium, is said to be ranking in ninth position worldwide and second in Italy with a value of €1,258 million. The contract with Adidas was due to expire in 2023, but the new owners shortened its duration, apparently because of financing problems.