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Juve lose shirt sponsors

Juventus have lost out on a massive £160m after oil giants Tamoil rescinded their shirt sponsorship contract with the club.

The Bianconeri did have a deal in place with the company until 2010, but their relationship will now terminate at the end of the present campaign.

Juventus had been in talks with Oilinvest Bv, who control Tamoil, to renegotiate terms following the club’s demotion to Serie B.

However, after months of negotiations, no compromise could be reached as the club failed to convince Tamoil to stay on board.

It’s being reported in Italy on Friday that their decision to leave the Old Lady will cost the outfit an incredible £160m.

The Bianconeri were set to net £70m between 2005 and 2010, with the rest of the funds promised between July 2010 and June 2015 should they have taken up on their option to extend.

Instead, Juve have collected just £24m from the contract that had to be reassessed given that the club were no longer in Serie A and out of the Champions League.

The loss of funds may have a deep impact on the side’s future seeing as they were looking to buy big in the summer.

Numerous star players have already warned officials that they will only stay in Turin if the squad is competitive at the highest levels once they complete their expected return to Serie A.

Juventus had already seen their Sky Italia TV and Nike contracts reduced by 30 per cent following their Calciopoli enforced demotion.

channel4

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