Fiat Chrysler-owned car brand Jeep has agreed to pay Serie A champions Juventus an extra €25m ($27.8m) per season, from 2019-20 to 2020-21, to reflect the club’s on-pitch performance and increased global profile.
The rest of the sponsorship agreement, which was previously worth a modest €17m per season, remains unchanged. Jeep will, therefore, pay Juventus about €42m per season until the current contract expires on June 30, 2021.
Juventus said in a club statement that the increase to the yearly fixed fee was due to the “sport performances achieved in recent years by the first team which contributed to the club’s improved Uefa ranking, and due to the increased Juventus brand awareness at a worldwide level”.
The agreement was made between the club and Fiat Chrysler Automobiles (FCA) Italy. FCA is 29.19-per-cent-owned by the Agnelli family, via its Exor holding company, which also holds a 64-per-cent stake in Juventus.
At the same time, the club also revealed that negotiations for the sponsorship’s renewal have begun in advance of the term set out in the contract.
Juventus initially linked up with Jeep in April 2012 under an agreement from 2012-13 to 2014-15. Jeep’s current deal runs from 2015-16 to 2020-21.
According to research by Italian consultancy StageUp and research company IPSOS this year, Jeep has the highest level of recognition among football fans in Italy – Jeep is recognised by 23 per cent of respondents as a Serie A sponsor.