Jeep returns as Juventus shirt sponsor in $77 million deal through mid-2028
FILE PHOTO: Soccer Football - Coppa Italia - Final - Atalanta v Juventus - Stadio Olimpico, Rome, Italy - May 15, 2024 Juventus' Federico Gatti celebrates with teammates after winning the Coppa Italia final REUTERS/Alberto Lingria/File Photo
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. REUTERS
Join ST's Telegram channel and get the latest breaking news delivered to you.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Straits Times
30 minutes ago
- Straits Times
Inter set to appoint former player Chivu as manager to replace Inzaghi
Inter Milan will appoint their former player and youth coach Cristian Chivu as manager to replace the recently departed Simone Inzaghi once details are worked out with his current club Parma, Inter president Giuseppe Marotta said on Friday. Inzaghi left Inter on Tuesday, four years to the day since his appointment and three days after his side suffered a 5-0 defeat to Paris St Germain in the Champions League final to end the season trophyless, and was named coach of Al-Hilal a day later. Italian media reports had already named Chivu as the new manager with the 44-year-old Romanian set to sign a two-year contract, and Marotta, speaking at the Serie A Festival, all but confirmed the news. "To win, money alone is not enough, expertise, planning, experience, and many other qualities are needed," Marotta said. "All these qualities are what we believe to have, for example in the case of Chivu. I'm saying this because I cannot give official confirmation as there is a bureaucratic aspect we need to overcome with Parma." While Inzaghi arrived at Inter after being in charge of Lazio for five full seasons, winning a Coppa Italia and two Italian Super Cups with the Rome-based team, the club are now putting their faith in a coach with very little coaching experience at this level. Chivu spent seven seasons as a defender at Inter, ending his playing career at the club in 2014 and was part of Jose Mourinho's treble-winning side of 2010. He returned to Inter in 2018, taking charge of underage teams and moving up through the ranks to manage the youth team where he won the league title in his first season in charge in 2022. Chivu left Inter at the end of the 2023-24 season, and in February this year he took on his first senior managerial role when he was named Parma manager to replace Fabio Pecchia with the club in the Serie A relegation zone. Parma had lost five of their last six games under Pecchia, while Chivu suffered just three defeats in his 13 matches in charge, securing the club's survival with a win at Atalanta on the final day of the season. Chivu has little time to settle in with the Club World Cup fast approaching where Inter begin the tournament on June 17 when they take on Mexicos' Monterrey in Los Angeles followed by two games in Seattle against Urawa Red Diamonds and River Plate. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
CNA
31 minutes ago
- CNA
Inter set to appoint former player Chivu as manager to replace Inzaghi
Inter Milan will appoint their former player and youth coach Cristian Chivu as manager to replace the recently departed Simone Inzaghi once details are worked out with his current club Parma, Inter president Giuseppe Marotta said on Friday. Inzaghi left Inter on Tuesday, four years to the day since his appointment and three days after his side suffered a 5-0 defeat to Paris St Germain in the Champions League final to end the season trophyless, and was named coach of Al-Hilal a day later. Italian media reports had already named Chivu as the new manager with the 44-year-old Romanian set to sign a two-year contract, and Marotta, speaking at the Serie A Festival, all but confirmed the news. "To win, money alone is not enough, expertise, planning, experience, and many other qualities are needed," Marotta said. "All these qualities are what we believe to have, for example in the case of Chivu. I'm saying this because I cannot give official confirmation as there is a bureaucratic aspect we need to overcome with Parma." While Inzaghi arrived at Inter after being in charge of Lazio for five full seasons, winning a Coppa Italia and two Italian Super Cups with the Rome-based team, the club are now putting their faith in a coach with very little coaching experience at this level. Chivu spent seven seasons as a defender at Inter, ending his playing career at the club in 2014 and was part of Jose Mourinho's treble-winning side of 2010. He returned to Inter in 2018, taking charge of underage teams and moving up through the ranks to manage the youth team where he won the league title in his first season in charge in 2022. Chivu left Inter at the end of the 2023-24 season, and in February this year he took on his first senior managerial role when he was named Parma manager to replace Fabio Pecchia with the club in the Serie A relegation zone. Parma had lost five of their last six games under Pecchia, while Chivu suffered just three defeats in his 13 matches in charge, securing the club's survival with a win at Atalanta on the final day of the season. Chivu has little time to settle in with the Club World Cup fast approaching where Inter begin the tournament on June 17 when they take on Mexicos' Monterrey in Los Angeles followed by two games in Seattle against Urawa Red Diamonds and River Plate.
Straits Times
44 minutes ago
- Straits Times
China says it is working with France on trade differnces, no sign yet of a cognac deal
FILE PHOTO: Bottles of Remy Martin VSOP cognac, Remy Martin XO cognac and St-Remy XO Brandy are displayed at the Remy Cointreau SA headquarters in Paris, France, January 21, 2019. REUTERS/Benoit Tessier/File Photo China says it is working with France on trade differnces, no sign yet of a cognac deal BEIJING/PARIS - China and France have agreed to resolve their trade disputes through dialogue, China's foreign ministry said on Friday, though there was no indication that agreement had been reached in talks on lifting Chinese levies on European brandy. Talks to resolve the cognac dispute accelerated this week with China's commerce minister Wang Wentao meeting his French counterpart in Paris on the sidelines of an OECD conference, and technical talks on the matter taking place in Beijing. The latest round of negotiations have raised hopes of a settlement, two industry sources with knowledge of the discussions said. "The two sides have reached consensus on resolving economic and trade issues through dialogue and consultation", the Chinese foreign ministry said after a call between the Chinese and French foreign ministers. Chinese anti-dumping measures that applied duties of up to 39% on imports of European brandy - with French cognac bearing the brunt - have strained relations between Paris and Beijing. The brandy duties were enforced days after the European Union took action against Chinese-made electric vehicle imports to shield its local industry, prompting France's President Emmanuel Macron to accuse Beijing of "pure retaliation". The Chinese duties have dented sales of brands including LVMH's Hennessy, Pernod Ricard's Martell and Remy Cointreau. Beijing was initially meant to make a final decision on the duties by January, but extended the deadline to April and then again to July 5. China is seeking to strengthen trade ties with the 27-member bloc as relations with the United States have soured in the escalating trade war. "France will not compromise on ... the protection of its industries, such as cognac," French trade minister Laurent Saint-Martin said after talks with Wang on Wednesday. Chinese officials, meanwhile, signalled to industry officials during three rounds of technical meetings in Beijing this week they wanted to settle the matter, one of the sources said, but added some sticking points remained. With annual imports of around $1.7 billion last year, China is the French brandy industry's most important measured by value and the second-largest by volume after the United States. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
