What Cristiano Ronaldo's move from Real Madrid to Juventus could mean for brands?
Cristiano Ronaldo, touted as the biggest star in the world's most popular sport recently shocked fans when he announced his move from Real Madrid to Juventus.
After all, Ronaldoâs brand value is a combination of pure genius, sportsmanship, film star worthy looks, heavy usage of social media and the largest following of any athlete, making him a sponsor's delight.
According to recent news, Italyâs Juventus Football Club is paying the football star, who has been the world's highest-paid athlete, a total of 112 million euros ($130 million) to seal the deal. While the Italian team is sure to cash on the player's superstar popularity, it could also mean good news for Fiat Chrysler Automobiles NV, owned by the Agnelli family (owners of Juventus), who could be able to rake in massive advertising profits, given the Jeep logo that the team dons in jerseys.
Juventus is ranked just 10th in the 2018 list of football clubs by revenue, according to Deloitte Football Money League. Ronaldoâs brand value is an exceedingly marketable commodity. Signing him could be seen as Juventus now being a force to be reckoned with. The impact is already visible as Juventus's shares jumped almost 40 per cent at the news of his signing.
Ferrari NV is the other brand that is owned by the Agnelli family. Juventus sponsors also include names such as Adidas, Allianz and Samsung, which might also be able to garner huge benefits out of this deal. It will be interesting to look at how these brands ride the wave. After all, Ronaldo has been the highest-paid athlete in the world for the second straight year with $93 million, including $35 million off the pitch from sponsors and licensing deals. Sponsors recognise the immense value of what Ronaldo brings to the table and for good reasons.
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