Juventus and Jeep Reunite in $77 Million Sponsorship Deal
(Reuters) - Juventus said on Tuesday U.S. carmaker Jeep will pay 69 million euros ($77.16 million) to become the Italian soccer club's front-of-jersey sponsor until June 2028.
Of the total amount, Juventus will get 4 million euros for the remainder of the current season, 19 million euros for the next season, and 23 million euros for each of the following sporting seasons, the club said in a statement.
The deal resumes the partnership after the Serie A club failed to find a main sponsorship deal when its previous contract with Jeep ended last June.
Part of Stellantis - the world's fourth largest automaker - Jeep had been the main sponsor of Juventus, the 36-time Italian league champions, since 2012.
The club currently featured 'Save the Children' foundation on the front of its shirt before the deal.
Reuters reported last month that Jeep was set to get its brand back on the black-and-white shirts of Juventus.
The Italian club also entered into a agreement with Detroit tourism bureau's 'Visit Detroit' to fill the second slot reserved for sponsors.
The club did not provide financial details on the 'Visit Detroit' deal, but said it "entails a fixed total fee significantly lower than that of the Jeep sponsorship agreement".
Juventus, who dominated Italian soccer for nearly a decade until 2020, have been struggling to regain their shine on the pitch after an accounting scandal, whose consequences included a ban from European competitions in the 2023/2024 season.
($1 = 0.8942 euros)
(Reporting by Gnaneshwar Rajan in Bengaluru; Editing by Leroy Leo)
