Italian Serie A club Juventus renewed its technical partnership with adidas for a minimum fixed fee of €408m ($448m) over eight years, the club’s 2018-19 financial report has confirmed.

The deal was modified in December 2018 and extended from 2019-20 to 2026-27 at a minimum fixed fee of €50.1m per year.

The rights fee does not include additional royalty payments to be paid on exceeding a threshold of sales and sports performance bonuses.

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In 2018, the “excellent performance of the commercial partnership” and “increased visibility of the Juventus brand” was recognised with an additional bonus of €15m from adidas, This was entirely collected by the club in the first half of the 2018-19 financial year.

The previous agreement, which was to expire on 30 June 2021, covered six seasons starting from 2015-16.