Italian soccer giants Juventus are in search of a new shirt sponsor with their deal with long-term partner Jeep, the US vehicle manufacturer, set to expire at the end of this season.
According to Turin-based newspaper Tuttosport, the partnership with Jeep, which began in 2012, will not be renewed once it expires.
The current figure paid by Jeep is said to be around $50 million per season, an increase from the $18.5 million paid in 2019.
Reports suggest that club executives are looking for a higher figure for the next deal, closer to $55 million, exploring options with either Saudi Arabian companies or US telecom firms, but nothing is concrete yet at this stage.
This follows the exit of Andrea Agnelli, former chair of Juventus, and a season without lucrative European soccer, with Jeep being part of the Exor group that is owned by the Agnelli family.
Juventus were banned from competing in this season’s third-tier pan-European Europa Conference League (ECL) after breaching governing body UEFA’s Financial Fair Play (FFP) rules.
The punishment comes from a false accounting case that saw the club fined €718,000 and docked 10 points in the top-tier Serie A.