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Emirates agrees to new 5-year shirt sponsorship with Paris Saint-Germain

British soccer player David Backham, poses with his new jersey in front of the PSG logo during a press conference, at the Parc des Princes stadium in Paris, Thursday, Jan. 31, 2013. David Beckham will join Paris Saint-Germain on Thursday, opting for a move to France after mulling over lucrative offers from around the world since leaving the Los Angeles Galaxy.(AP Photo/Michel Euler)The Associated Press

An Emirates airlines executive says a new five-year jersey sponsorship deal has been agreed to in principle with Paris Saint-Germain, David Beckham's new team.

Emirates senior vice president Boutros Boutros tells The Associated Press the contract is being completed and should be signed this month.

Last year, PSG's Qatari owners were reportedly in sponsorship talks with an unidentified Qatari bank, but Boutros says the club "never went to see another company."

PSG's jerseys have featured Emirates since 2006 and the current deal, which expires in 2014, is worth $5.5 million a year. Financial details of the new deal, which begins with the 2014-15 season, weren't available.

Beckham joined PSG on Thursday and will play for the club until the end of the season.