PSV Eindhoven and Philips announced that the existing sponsorship agreement will be extended with five years at the current conditions, starting from July 1st.
In addition, Philips and PSV will explore opportunities for PSV to increase sponsorship revenues. This by recruiting sponsors who fit the profile of both PSV and Philips.
As its name indicates (Philips Sport Vereniging), the club started out as a works team for employees of electronics conglomerate Philips on 31 August, 1913 to celebrate the centennial defeat of the French in the Napoleonic wars.
Because of their close ties with Philips, PSV have had the same shirt sponsor without exception since 1982, the year jersey sponsorships were introduced in the Eredivisie. This is a record in Dutch football.
Harry Hendriks, Executive Chairman Philips, said: "PSV and Philips have the longest running sponsor relationship in the world, which is extended with another five years. "
Justin Sanders, CEO PSV: "The 100-year anniversary of PSV in 2013 is now fast approaching and we are extremely proud of our unique historic relationship with Philips. Philips and PSV are strong brands and we expect to bind more partners"