TURIN: Serie A champions Juventus has modified their existing sponsorship agreement with global apparel giant adidas, extending it to 30 June 2027.
The latest upgrade begins from the 2019-2020 season and will result in the Italian club receiving a whopping 423 million euros ($481 million). This includes a 15 million euros ($17 million) additional bonus from adidas due to the success of the partnership and the increased visibility of brand Juventus last summer following the entrance of Cristiano Ronaldo.
The consideration does not include additional royalty payments upon exceeding a threshold of sales and sports performance bonuses.
The previous deal signed for the period between 2015 to 2021 was worth 175.5 million euros ($200 million), which is less than half of the present value.
