Exor Chairman John Elkann, accompanied by several directors from Juventus, recently traveled to Saudi Arabia, where they attended the Formula One event while also exploring opportunities for securing new shirt sponsors.
During the Saudi Arabian F1 Grand Prix on March 9, Elkann, who leads the Agnelli family, was observed alongside representatives from Ferrari, sparking optimism among fans of the renowned automotive brand. However, his presence at the event extended beyond mere spectating and involvement in off-track discussions; Elkann also remained attentive to Juventus’ footballing affairs.
The financial performance of Juventus has been adversely affected this season due to their disqualification from European competitions. However, their anticipated return to both the Champions League and the Club World Cup in the upcoming season is poised to catalyze progress in the aftermath of Andrea Agnelli’s tenure.
According to reports from Corriere dello Sport, Elkann, accompanied by select Juventus executives, undertook the trip to Saudi Arabia with the objective of fortifying commercial relationships with enterprises in the Middle East. Their primary focus was to identify potential replacements for Jeep, the current main shirt sponsor, with a target sponsorship value of no less than €45 million annually. The existing agreement with Jeep is set to conclude at the end of June, prompting Juventus to explore new sponsorship avenues.