TURIN: Italian champions Juventus have signed a six-year extension to their shirt sponsorship deal with Fiat in an agreement to the end of the 2020-21 season.
Juventus, historically financial and owned by Fiat’s founding Agnelli family, undertook a formal company sponsorship in April 2012 under an agreement that covered the 2012-13, 2013-14 and 2014-15 campaigns.
The agreement was worth €35m ($47.6m) in total and enabled American automobile marque Jeep to replace Betclic as the Turin giant’s lead sponsor, while also becoming official vehicle supplier.
The deal was forged between Juventus and the Fiat Group, which are both held by Exor and fall under the ultimate control of the Agnelli family. Jeep is owned by the Chrysler Group, which entered into a global strategic alliance with Fiat in 2009.
Under the new agreement, Jeep is set to remain Juventus’ sole jersey sponsor in all competitions under terms that are worth €17m annually from the 2015-16 season. The terms and conditions of the existing agreement for €13m per season will be adhered to for 2014-15, with Juventus having received a bonus of €6m from the Fiat Group following its title win last term.
Further variable bonuses based on Juventus’ performances in national and international competitions are included in the new agreement, along with a provision of Fiat vehicles to the club for promotional purposes.
READ MORE AT: