As Cristiano Ronaldo joins Juventus the team sells $60 million worth of his jerseys in 24 hours

As Cristiano Ronaldo joins Juventus the team sells $60 million worth of his jerseys in 24 hours

On July 10th, it was announced that Cristiano Ronaldo had signed a multi-million dollar agreement with Italian soccer team Juventus, marking an end to his nearly decade-long career with Real Madrid.

Juventus seduced Ronaldo with a contract worth well over $100 million, and the deal already seems to be paying off. According to The Guardian, the team sold 520,000 shirts bearing Ronaldo’s name within just 24 hours of the merchandise being released.

To put that into perspective, beIN Sports reports that the team sold just 850,000 shirt during the entirety of the 2016/2017 season. Business Insider estimates that these Ronaldo-related purchases translate at least $60 million in sales, and notes that since “typically clubs receive only 10-15 percent of the revenue generated by the kit manufacturer (in this case, Adidas),” the team will probably see about $6 to $9 million of that money.

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Juventus new signing Cristiano Ronaldo poses for the media during the press conference on July 16, 2018 in Turin, Italy.

Valerio Pennicino – Juventus FC/Juventus FC via Getty Images
Juventus new signing Cristiano Ronaldo poses for the media during the press conference on July 16, 2018 in Turin, Italy.

Juventus merchandise doesn’t come cheap. According to the team’s website, Ronaldo fans can purchase children’s jerseys with his name for €84.95 ($98.90), women’s jerseys for €94.95 ($110.60), men’s jerseys for €104.95 ($122.20) and an authentic replica of the gear worn by Juventus players for €137.45 ($160.10).

This means that average price for a Juventus Ronaldo jersey is $122.95. Multiplied by the 520,000 shirts sold, Juventus could have brought in $63,934,000 in one day. The team’s Twitter account also gained one million new followers overnight.

The Guardian, Sky Sports and Mirror report that Ronaldo’s four-year contract with Juventus includes an annual salary of roughly €30 million ($34.9 million). According to Forbes, that actually translates to a paycut. The deal will decrease Ronaldo’s gross salary from $66 million to $64 million. Juventus is also required to pay a €120 million ($140.80 million) transfer fee to Real Madrid.

So far, it seems like Juventus’ investment in Ronaldo is paying off for the club, but the player seems to believe that the deal is advantageous for him as well.

“I want to leave my mark on the history of Juventus,” he said at his first team press conference according to The Guardian. “This is one of the best teams in the world, and I’ve had my mind set on coming here for a little while.”

“I feel great, for me it is another challenge,” the Portuguese player said. “I know it will be tough. I will be ready, Juve is ready.”

 

Source:- cnbc

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