Iconic italian club Juventus Turin have have officially announced a new six-year deal with adidas from the 2015-16 season worth €139.5m. The 3-stripes will have 2 major teams in Italian football: Juventus Turin and AC Milan.
The club released a statement this evening confirming the agreement has been struck with Adidas International Marketing B.V.
Adidas will become technical sponsors for all the Juventus teams for six years from 2015 in a deal worth €139.5m, not including performance-related bonuses.
The firm will also control the licensing and merchandising for Juventus for €6m, while the club will benefit from royalties when surpassing sales targets.
Until June 30 2015, Juventus will continue their collaboration with Nike as their technical sponsor.
“Juventus Football Club S.p.A. has reached an agreement with adidasInternational Marketing B.V. for a technical sponsorship deal starting from the 2015/2016 campaign. Adidas will be the technical sponsor of all Juventus teams for a fixed consideration of €139.5 million over the six-year term. ” read the statement.
“The consideration does not include the value of adidas products that will be annually supplied to the club or the programme of performance related incentives and bonuses available to the club.
“Adidas will manage all Juventus’ licensing and merchandising activities for a fixed consideration of €6 million per annum. The club may also benefit from additional royalty payments upon exceeding a threshold of sales. For the current season and the 2014/2015 campaign, Nike will continue in its role of technical sponsor and trademark licensee.” [Source: Juventus.com]
A very bold move from the 3-stripes on a brand exposure and merchandising standpoint. With AC Milan already in their portfolio, adidas is “responding” to Nike who recently partnered with AS Roma, starting next season.