Italian Soccer major club Juventus have extended their partnership with German Sportswear company Adidas until 2027 in a deal worth US$58 Million per year.
It was earlier dealt that the major sports wear brand adidas signed a six year deal with the club till 2021, but according to a new arrangement now Adidas will be paying Juventus a sum of US$464 million over the course of next eight seasons.
After the commencement of Cristiano Ronaldo in to the club for a fee of €100 million (US$114 million), Juventus has increased their marketability in the market.
According to the club statement about 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.’
Apart from the new agreement, Adidas will also offer the club Juventus a sum of 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 recognized 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.