Tamoil: Gadaafi warns of Juventus deal doubt
by Brian Turner
A valuable Italian soccer-shirt sponsorship deal is reportedly in peril due to the opposition of traditionalist government leaders in a North African nation.
The deal would put the trademark of Tamoil, Libya’s state oil company, on the shirts of Italian soccer team Juventus for up to ten years.
But Saadi Gadaffi, son of Libyan leader Muammer Gadaffi and a representative of Tamoil in Italy, says that traditionalists at the top of his father’s government want to stop the deal, which is worth up to $311 million.
Gadaffi gives no reason for the government’s position but calls it “backward.” He claims that the prime minister is among those who oppose the contract.
Juventus, based in Turin, is one of Italy’s most famous, and most successful, soccer clubs and shares in its stock are traded on the Milan stock exchange.
The Libyan Arab Foreign Investment Company owns 7.5 percent of the team’s shares. Sixty percent of the club is owned by Ifil, a holding company owned by the Agnelli family of Italy.
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