Miami, FL (Saturday, January 5, 2019, by Kenneth Russo)
The first week of the new year sees the leaders of Serie A, Juventus, reaching a six-year extension of their contract with Adidas. The German company will now continue to supply kits and merchandise for Juve until 2027. The contract extension is worth $58 million USD per year. The new agreement begins at the start of the 2019-2020 season.
The Serie A champions’ previous six-year agreement with the kit supplier was set to expire in 2021. Under terms of the contract extension, Adidas will pay Juventus $464 million USD over the course of the next eight seasons. Adidas will also be the technical partner of the club’s youth side. Other terms and conditions of the existing contract remain unchanged.
Juventus have made a concerted effort to increase their marketability, highlighted by signing last summer of global superstar Cristiano Ronaldo for a fee of €100 million ($114 million USD). They also had a special shirt featured (see cover photo) in this year’s edition of the EA Sports series, FIFA 19.
Juventus releases a statement about this new deal with Adidas: “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.”
The club news release 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.”
In a separate agreement, Adidas will also grant Juventus a $17 million USD bonus as a result of the club’s successful 2018 season, in which the Torino based club won Italian soccer’s Scudetto for a seventh consecutive year.
It’s been another stellar season thus far for La Vecchia Dama. They sit nine points clear of rivals Napoli and are favourites to win an eighth consecutive Scudetto. Massimiliano Allegri’s side have only having dropped four points in the first half of the season.