Soccer Football - Serie A - Bologna v Juventus - Stadio Renato Dall'Ara, Bologna, Italy - May 20, 2024 Juventus' Kenan Yildiz celebrates scoring their third goal with Federico Chiesa REUTERS/Alberto Lingria/File Photo
TURIN/MILAN (Reuters) - Carmaker Jeep is set to pay almost 25 million euros ($28 million) annually to get its brand back on the black-and-white shirts of top Italian soccer club Juventus, two sources close to the matter told Reuters on Thursday.
The deal would resume a multi-year partnership after the former Serie A champions 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 since 2012. The value of the Jeep sponsorship had gradually increased over years to reach 45 million euros annually.
The lack of a main sponsor is weighing on already strained finances of Milan-listed Juventus. The club is set to close the 2024-2025 fiscal year in the red, despite the revenue boost from its return to Europe's elite Champions League competition.
Parent company Exor, the holding company of Italy's Agnelli family and also a major investor in Stellantis, was forced last month to inject 15 million euros into the club's coffers. It has allocated a total of 600 million euros to Juventus over the past six years.
Juventus is in advanced talks with Jeep for a new cheaper shirt deal, which is expected to be finalised in time for the FIFA Club World Cup in the U.S. in June, the sources said.
Detroit tourism bureau's 'Visit Detroit' logo is also expected to appear on Juventus jerseys, the sources said, giving the club a potential additional revenue boost.
However, only the Jeep brand would appear on the front of shirts in European competitions, in line with UEFA's rules limiting front jersey sponsors, the sources said.
Juventus declined to comment, while Stellantis and Visit Detroit were not immediately available for comment.
Detroit is the U.S. home of Stellantis, the parent of former Chrysler group.
The potential return of Jeep as Juventus main sponsor along with Visit Detroit was first reported earlier this month by specialistwebsite SportBusiness.
Juventus, who dominated Italian soccer for nearly a decade until 2020, have been struggling to regain their shine on the pitch after it an accounting scandal, whose consequences included a ban from European competitions in the 2023/2024 season.($1 = 0.8804 euros)
(This story has been refiled to fix a glitch in the dateline)
(Reporting by Giulio Piovaccari in Turin and Elvira Pollina in Milan; Editing by Keith Weir)
