When sponsorships were introduced to the Eredevisie in 1982, PSV Eindhoven joined forces with Philips – an electronics conglomerate based in Amsterdam. Since then, the Dutch club have proudly displayed Philips around their grounds for over 30 years – and now they’ll be displaying it for at least ten more.

Philips and PSV have announced that the electronics company is extending its partnership with the Eredevisie club for the ten years. The deal is worth 3 million euros per year for the first five years and an annual sum of 1.5 million euros for the following five.

This means that PSV’s home ground – Philips Stadium – will keep its name for at least the next ten years, and starting in the 2016-17 season PSV founded by Philips will be embroidered on the sleeves of each PSV jersey.

Philips did announce earlier this year that it would be stepping down as the main shirt sponsor of PSV, as the two parties have been working closely with each other in exploring new and innovative ways for the club to generate funds via sponsorships. Philips abandoning of the shirt sponsorship may be an example of that, but this new extension highlights that the corporate sponsor is not leaving its beloved club’s side any time soon.

The partnership between the two is the longest running sponsorship deal in the Netherlands, and the relationship between club and company dates all the way back to 1913. It was then that Philips factory workers set up the club and named it Philips Sport Vereniging (Union) which when shortened becomes PSV. The soccer club eventually became a limited liability company and began to operate independently of Philips, but the two have remained tight-knit ever since the club’s birth.

You can find PSV jerseys right here at World Soccer Shop!