MILAN?- Emirates airline has renewed its shirt sponsorship of AC Milan for five more seasons in a deal reportedly worth 85 million euros (more than $100 million).

The ANSA news agency reports that with bonuses, the deal could be worth as much as 100 million euros ($125 million).

That's a 40 percent increase on the previous deal, due to expire next year, which was worth 11.7 million euros ($14.6 million) per season, plus bonuses.

Milan's press office would not immediately confirm details of the deal but the club was to announce the sponsorship at a news conference in Milan on Monday.

It's a much-needed cash boost for Milan, which finished eighth in Serie A last season and failed to qualify for Europe.