Dubai’s Emirates Airline will agree a new five-year extended shirt sponsorship deal with Paris Saint-Germain (PSG), the Qatar-owned French football side that recently signed former England captain David Beckham.
"We have a new contract for a new period for the coming five years. It's just with the lawyers," Emirates senior vice president Boutros Boutros told Associated Press.
“The principle has already been approved by our senior management and by the club itself," he added.
The original US$5.5m a year sponsorship deal was signed in 2006 and was due to expire in 2014. While an unnamed Qatari bank was reportedly in talks to take over the shirt sponsorship, Boutros told AP the club "never went to see another company".
"Already all eyes are on PSG, now having someone like Beckham, it means a lot for the club but for the football industry because it's becoming a star in the industry," Boutros said.
The 37-year old former England captain was unveiled as PSG’s latest signing at the weekend and could possibly be used in future Emirates advertisements as part of the Dubai carrier’s shirt deal.
"I hope one day we will be able to use him," Boutros was quoted as saying.
PSG have spent more than US$350m in transfers since Qatar Sports Investment bought the club in June 2011.
They are also still in this season's lucrative Champions League and will face Spanish side Valencia in the last 16.
The Paris club are currently top of Ligue 1 and already have stars such as Zlatan Ibrahimovic and Thiago Silva.