Soccer powerhouse Juventus extended its partnership with Adidas in a deal worth 408 million euros ($464 million) yesterday.
The Series A champion first teamed up with the athleticwear giant in 2015, signing an agreement through 2021. The new deal will begin next year and run until June 2027, with the club also earning a bonus of 15 million euros ($17 million) for its successful showing this season.
Adidas will be the technical partner for both the Series A club and for its youth affiliate. If Juventus has a strong on-field performance — or if sales of its apparel are strong — the Italian team may be entitled to additional payment from Adidas.
“The new agreement will relate to the period starting with season 2019/2020 and cover in total eight football seasons until 2026/2027,” a statement read. “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.”
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Juventus’ success can be at least in part attributed to the addition of Cristiano Ronaldo, the Portuguese forward who joined from Real Madrid this season. The 33-year-old wears Juventus’ Adidas uniform, but he has a partnership with Nike and wears that brand’s cleats. However, Adidas has benefited greatly from the soccer star’s move to Juventus: Within 24 hours of Ronaldo‘s announcing his move, the Three Stripes sold $60 million worth of his new jersey.
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