Fiat signed a memorandum-of-understanding with Juventus Football Club to become the 'official sponsor' of Juventus in all competitions for three years from July 1, 2007.

At the end of last year, Olinvest BV, owner of the Tamoil petrol station chain, ended talks on a revamped sponsorship deal after Juventus' relegation to Serie B in match-fixing allegations.

'The memorandum foresees a fixed payment for Juventus of 33 mln eur plus a variable amount determined by sporting results in national and international competitions,' Fiat said in a statement

Under the agreement, in the first season, 2007/2008, Juventus shirts will carry Fiat's heavy machinery brand New Holland, it said.

Fiat is 30 pct-controlled by IFIL SpA, while Juventus is an IFIL unit.

Olinvest agreed, on a friendly basis, that Juventus could continue to wear shirts with the Tamoil brand until the end of the 2006/2007 season.

Tamoil's original five-year, 110 mln eur sponsorship deal was signed in March 2005 when Juventus was in Serie A.


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