PARIS: French champions Paris Saint-Germain have ended their search for a new shirt sponsor after announcing a global multi-year partnership with multinational hotel chain Accor.

Starting from next season, the French hospitality company’s Accor Live Limitless (ALL) lifestyle loyalty programme will replace Emirates as the Ligue 1 leaders’ principal partner, taking over from the Dubai-based airline on the front of the team’s playing shirts.

The precise length and financial terms of the arrangement have not been disclosed, though French newspaper Le Parisien quotes a source saying the deal is “in the top four European contracts”.

A joint press conference has been organised between PSG chairman Nasser Al-Khelaifi and Sébastien Bazin, chairman and chief executive of Accor Group.

L’Equipe first revealed in August that PSG would not be renewing their deal with Emirates beyond the 2018-19 season. PSG’s shirts have displayed the airline’s logo since 2006, with the company reportedly paying the club around €30m per year.

However, when the two parties met to discuss extending their partnership, Al-Khelaifi reportedly wanted to more than double that figure to up to €80 per year, a demand that Emirates were apparently not willing to meet.

Owned by Qatar Sports Investments, PSG are one of the richest clubs in world soccer, and recently ranked sixth in the Deloitte Football Money League with a total revenue of €541.7 million (US$614.4 million).

The club have also announced a new sponsorship deal with Swiss-based cruise company MSC Cruises, which was unveiled as a global partner during the team’s 5-1 win over Montpellier on Wednesday.

The deal is reported as being worth €2m-a-year.