Adidas has secured a major coup by sealing a technical sponsorship deal with Italian Serie A giant Juventus.
The German sportswear company will replace rival Nike in the role from the start of the 2015-16 season. Adidas will supply the Turin club’s kit for six years, through to the end of the 2021-22 campaign. The deal is worth a total of at least Eur175.5 million over the term of the agreement, but Juventus said that further payments could be made.
“Adidas will be the technical sponsor of all Juventus teams for a fixed consideration of Eur139.5 million over the six-year term,” the club stated on the Italian stock exchange. “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.”
The club added: “Adidas will manage all Juventus’ licensing and merchandising activities for a fixed consideration of Eur6 million per annum. The club may also benefit from additional royalty payments upon exceeding a threshold of sales.” Juventus is the defending Serie A champion and currently lies third in the table.