Essendon’s failure to qualify for the finals hasn’t hurt the club’s ability to lure a new major sponsor, with furniture giant Amart signing on in what will be one of the biggest sponsorship deals in Australian sport.

In a deal believed to be worth more than $2 million a season, The Age can reveal that Amart has signed on as the club’s new co-major sponsor, replacing Kia, with the car manufacturer disappointed not to be continuing its relationship with Essendon.

Essendon will miss the finals, but have nabbed a lucrative sponsorship deal. Credit:AAP

It’s believed the partnership between Amart and Essendon is for at least four years.

While the club was keen to keep Kia as a sponsor, the offer from Amart was too good to refuse, considering the debt the club is still in debt following the infamous supplements scandal.