PSV Eindhoven Sign €22.5m Philips Deal
Nov 8, 2015, by Chris
- New Philips Deal: PSV Eindhoven has signed a new 10-year sponsorship deal with Philips, worth a total of €22.5 million, following Philips' earlier announcement to end their main sponsorship of the club.
- Deal Details: The new deal includes a "Philips founder PSV" motif on the sleeves of the team's kits and naming rights for PSV's stadium, with payments structured at €3m per year for the first five years and €1.5m for the following five.
- Looking for Main Sponsor: Despite the Philips deal, PSV is still searching for a new main shirt sponsor, both locally and internationally, after more than 100 years of Philips being their main backer.
Dutch Eredivise club PSV Eindhoven have signed a new sponsorship deal worth €22.5 million euros with Philips two days ago. The Dutch healthcare systems and lighting group said earlier this year that they will be stepping down as the club's main sponsor after 30 years.
PSV Sign New 10-Years Philips Deal
After the company announced that they will stop sponsoring PSV's Shirts in a shock announcement seven months ago, the new PSV Eindhoven Philips deal brings at least back a special motif on the sleeves of the kits with the lettering "Philips founder PSV". Additionally, the new Philips PSV deal includes the naming rights for PSV's stadium.
Hans de Jong (CEO Philips Benelux) had this to say: “Philips is proud of its long and successful partnership with PSV. The company has and will continue to have close involvement with ‘our club’ and in the next few years we will be focusing on substantive collaboration and joint innovations, thereby creating value for each other. Here at Philips we are concentrating on the impact that our innovations have on people’s lives. An illustration of this is the LED floodlighting that has just been completed in the Philips Stadium, making this stadium a worldwide showcase for us. We also see opportunities for showcasing health-related innovations in conjunction with PSV.”
The new PSV Eindhoven Philips deal is worth €3m for each of the next five seasons, while PSV will receive €1.5m for the last five years of the contract.
PSV General Manager Toon Gerbrands is also pleased with the new agreements. “Because of their history, Philips and PSV are inextricably bound together. Over the next few years this new agreement will enable PSV to show structural improvement in commercial terms. PSV has high sporting ambitions, and having partners who provide us with the latest technology to help us to constantly improve our performances is a very important factor in this. Philips understands better than anyone that we are looking for innovations that will improve us as a football club. Football is paramount for us. We welcome any application that will enable us to improve the top-sport climate.”
Philips had been the main baker of PSV for more than 100 years. The club was founded by Philips factory workers in 1913.
PSV are still searching for a new main sponsor, both locally and internationally, general manager Toon Gerbrands told a news conference.
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