The sponsorship agreement signed on 30/12/2020 at the end of the year further improves the one renewed in October 2019. A year ago the FCA automotive group increased the annual fixed amount of the Jeep sponsorship for the 2019/2020 and 2020/2021 sports seasons, increasing of 25 million euros, going from 17 million a year to 42 million a year, to then reach today a total figure of 45 milion plus bonuses. In the past, the Manager Sergio Marchionne, who died 2 years ago, had opposed the exaggerated donations from FCA to Juventus
John Elkann continues to go to the rescue of the red financial accounts of the club that actually controls and delivers the Christmas gift to his cousin Andrea Agnelli: the sponsorship of the #Jeep branded jersey (FCA group) has been renewed for a further three seasons, until June 2024, based on 45 million euros plus bonuses for each sporting season.
Without forgetting the 191 million euros added last year by Exor in the capital increase of 300 million, the most impressive recapitalization in the history of the Juventus club, of which 63.77% (191 million) paid from the holding of Agnelli Family and the part that remains with FCA to reduce the Juventus club’s record debt, which reached 463.6 million at the end of Cristiano Ronaldo’s first season in Juventus.
After the defeat against Ajax in the Champions League 2018/19, the holding Exor, in its financial report of 2019, underlined the importance to win the Champions League 2019/20, confirming the criticality of the club, especially after CR7 period; profitability insufficient to cover the costs, which increased enormously with the arrival of the Portuguese; then the heavy engagement of the Ajax defender De Ligt, followed by Covid-19 and yet another defeat in the Champions League, against Lyon, in 2019/2020 which charged the balance sheet with a further deficit of 89.7 million euros, for current debt of approximately 385 million.
In conclusion, to solve this situation, CR7 will have to be sold next June in order not to lose it to zero in June 2022, at the natural expiration of the four-year contract, for which it is not intended to renew for the future, but in the meantime the Club insures itself for another three years a rich sponsorship contract with the increasingly consistent help of the holding company to try to remedy the current economic and financial situation of the Juventus club.