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Marketing and Sponsorship

Dutch Eredivisie Side PSV Eindhoven Signs $24M Contract With Philips

Dutch Eredivisie side PSV Eindhoven "signed a new 10-year sponsorship deal" worth €22.5M ($24.19M) with Dutch healthcare systems and lighting group Philips, according to EUROSPORT. Philips this year said it would be stepping down as the club's main sponsor but the deal means it keeps the "Philips founder PSV" motif on the sleeve of team shirts from next season as well as naming rights to the club's stadium. PSV will receive €3M ($3.2M) for each of the next five years and an annual sum of €1.5M ($1.6M) "for the remainder of the contract." Philips "has been the main backer of the former European champions for over a century and the decision to withdraw as the club's main sponsor came as a surprise" (EUROSPORT, 11/6).

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