Italian soccer giants Inter Milan are set to pocket €100 million (US$110 million) from a new sponsorship deal with Evergrande’s electric car brand, Hengda Hengchi, according to popular Chinese daily Titan Sports.

Reports had emerged last week that Chinese real estate giants Evergrande had held exploratory talks with the Serie A club over potential partnerships and now those discussions look to have come to fruition with this bumper deal.

According to Titan Sports, Inter’s owner Suning Holdings Group has already started broadcasting adverts featuring Hengda Hengchi cars on its PPTV channels, suggesting a deal is imminent.

Though the report adds Hengda Hengchi will be joining as the Serie A side’s new car sponsor, it does not mention if the brand, or another Evergrande-owned company, will be replacing Pirelli as Inter’s shirt sponsor when the tyre brand’s contract with the club expires in 2021.

Inter currently earns €10.5 million (US$11.6 million) per year from their long-term jersey partnership with Pirelli, dating back to 1995, but owner Zhang Jindong is looking for greater revenue opportunities as rival European clubs continue to sign ever more lucrative shirt sponsorship deals.

Further talks have taken place between Jindong and Evergrande representatives over future partnerships.

Inter, fresh from their derby victory against city rivals AC Milan at the weekend, next face Lazio on 25th September.