Juventus now sponsored by agriculture equipment

Fiat SpA has signed a Memorandum of Understanding to become the 'official sponsor' of Italian Serie B club Juventus in all competitions for three years from 1 July 2007. At the end of last year, the Libyan government's Olinvest BV, owner of the Tamoil petrol station chain, ended talks on a revamped sponsorship deal following Juventus' match-fixing convictions and relegation from Serie A. The MOU foresees a fixed payment for Juventus of 33 million euros plus a variable amount determined by sporting results in national and international competitions. In the first season, 2007/2008, Juventus shirts will carry Fiat's heavy machinery brand New Holland. Fiat is 30 percent-controlled by IFIL SpA, while Juventus is an IFIL unit. Tamoil's original five-year, 110 million euros sponsorship deal was signed in March 2005 when Juventus was dominating Serie A.