Italian soccer giants Juventus have extended their partnership with German sportswear company Adidas until 2027 in a deal worth US$58 million per year.
The Serie A champions’ previous six-year agreement with the kit supplier was set to expire in 2021, but the new arrangement will see Adidas pay Juventus US$464 million over the course of the next eight seasons.
As well as working alongside the Turin outfit’s first team, Adidas will also be the technical partner of the club’s youth side.
Juventus, who have won Italian soccer’s top flight in each of the last seven years, saw their marketability grow over the summer with the signing of global superstar Cristiano Ronaldo for a fee of €100 million (US$114 million).
A club statement said of the new deal: ‘During this period, Adidas will be the technical partner of all Juventus teams for a minimum fixed consideration of €408 million. The consideration does not include additional royalty payments upon exceeding a threshold of sales and sports performance bonuses.’
Separate from the new arrangement, Adidas will also grant Juventus a US$17 million bonus as a result of the club’s successful 2018.
The statement added: ‘With respect to the excellent performance of the commercial partnership and to the increased visibility of the Juventus brand in 2018, Adidas recognised an additional bonus of €15 million for 2018, which will be paid prior to 31 December 2018.
‘The other terms and conditions of the existing contract remain unchanged until the start of the new agreement in season 2019/2020.’
Juventus already find themselves nine points clear of their closest challengers Napoli as they look to claim an eighth consecutive domestic title, with Massimiliano Allegri’s side only having dropped four points so far with half the season gone.
Italian soccer giants Juventus have extended their partnership with German sportswear company Adidas until 2027 in a deal worth US$58 million per year.
Getty Images
