Reports in Italy are indicating that AC Milan are in talks with Fly Emirates to become their new official shirt sponsor when their existing deal with Bwin expires in 2010.

The airline company - current sponsors of Arsenal - are reported by Corriere della Sera to be in advanced talks with the Serie A side to take over the 10 million Euro contract.

During the match against Palermo, the guest of honour at the stadium was Sheikh Al Maktoum.

It’s said that after the game against Palermo, Galliani and Al Maktoum met in a luxury hotel in the center of Milan, where the two debated figures and numbers about the shirt sponsorship for about an hour, with Fly Emirates willing to pay 20 million Euro each season for four years with an option for a fifth.

It’s also said that they are interested in financing the construction of a new stadium.