Juventus sells stadium name rights to Sportfive
MILAN, March 20 |
MILAN, March 20 (Reuters) - Italian soccer club Juventus (JUVE.MI) has agreed a 15-year marketing partnership with Sportfive, part of Lagardere Sports (LAGA.PA), which includes the naming rights of its new stadium and sale of top seats.
In a statement on Thursday, the club said the deal provided base compensation of 6.25 billion euros a year for 12 years and also payments in connection with building the new stadium.
Juventus, one of the world's best-known soccer teams, is currently third placed in Italy's top flight Serie A league.
The team approved plans for a new 105 million euro stadium earlier this week. (Reporting by Jo Winterbottom; Editing by Tim Dobbyn)
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