It's done! Following Real Madrid's confirmation that Cristiano Ronaldo will leave Real Madrid this summer, Juventus have confirmed that he will join La Vecchia Signora.
After weeks of speculation, and everyone struggling to fathom the fact that the five time Ballon d'Or winner would leave the Santiago Bernabeu after winning his third consecutive UEFA Champions League with Real Madrid, Juventus have now - finally - confirmed the signing of the best player world: Cristiano Ronaldo.
La Vecchia Signora have confirmed that the Real Madrid and Manchester United legend has signed a four year deal with club, which will keep him at the Allianz Stadium.
The club statement reads:
"Juventus Football Club SpA announces that it has reached an agreement with the company Real Madrid Club De Fùtbol SpA for the definitive acquisition of the right to the sports performances of the player Dos Santos Aveiro Cristiano Ronaldo against a fee €100m, payable in two years, plus the solidarity contribution provided for by the FIFA regulations and accessory charges for €12m.
"Juventus signed a four-year sports performance contract with the same player until June 30, 2022"
The financial details revealed are as expected, as it had been previously reported that the club would fork out a fee in the excess of €100m to bring the 33-year-old to the Serie A. It is, however, a surprise that the fee will be paid in two €50m instalments over the next two years, which will surely soften the financial blow of the move for the club.
It is expected that CR7 will earn an extraordinary €30m per annum at the club.
While the signing presents a huge financial outlay for I Bianconeri, it also presents a huge marketing and sporting opportunity for the club and its parent company: Exor holding company.
Ronaldo - a five time winner of the UEFA Champions League - will make undoubtedly make Juventus the outright favourites to win an elusive European title over the course of the next four years. As well as making Juventus one of the most marketable clubs in the world, the Portuguese international will also be seen by the club's parent company, Exor, as a marketing asset for its subsidiaries Fiat, Jeep and Ferrari.