Inter Milan left chasing DigitalBits millions

Inter Milan could be forced to begin legal proceedings against main sponsor DigitalBits.

The blockchain network has missed a set of payments to the Italian giants despite holding a multi-year deal with the club, according to Italian newspaper Corriere della sera.

The $87m front-of-shirt sponsorship with umbrella brand Zytara Labs saw the crypto brand replace Socios in September 2021 having previously been a sleeve sponsor.

But reports suggest bosses at Inter are discussing removing the DigitalBits logo from the front of its first team wear before the official Serie A season has even begun.

DigitalBits has already appeared on the Inter strip for its previous two pre-season friendlies but could be missing for this weekend’s opening fixture with Lecce.

Inter are also prepared to remove branding from its women’s and youth team shirts in a bid to force DigitalBits to act and pay its outstanding instalment.

It is believed both parties are still in talks but a legal dispute has not been ruled out at this stage. It would leave Inter scrambling for a new sponsor into the domestic season.

DigitalBits is an open-source blockchain on which any asset can be tokenised including NFTs.

According to Italian football finance publication Caldi e Finanza, the value of DigitalBits has dropped 98% over the past 12 months.

It also reports that DigitalBits has made late payments during its sponsorship with Roma.

The blockchain brand continues to boast David Beckham as an ambassador since March.

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Source

Updated: 08/09/2022 — 14:00