Cristiano Ronaldo Turned Down Millions Of USD From His Underwear Brand

Hai Hoang |Apr 29, 2020

Superstar athlete Cristiano Ronaldo turned down millions of USD of profit share from his underwear sales in order to help out his business partner. His gesture is much appreciated by his partner, LBS, as retails companies around the world are struggling.

Super-star athlete Cristiano Ronaldo turned down millions of USD of profit share in order to help out his business partner, Denmark’s JBS.

Portugal-native Cristiano Ronaldo has recently announced that he would not claim his profit share from the sales of underwear and socks of the Cristiano Ronaldo brand. This is due to the fact that the company that is in charge of manufacturing his line of underwear, JBS, is struggling due to lost sales due to the on-going global pandemic.

Cristiano Ronaldo underwear brand
C.Ronaldo posing next to his self-inspired products

Cristiano Ronaldo and JBS have partnered up since 2013 as it was the year he launched the underwear line. Named CR7 Underwear, its sales figures have always been positive, up until the coronavirus froze up the global retail market.

Corona closes Shops
Much like other products, sales of CR7 Underwear has been slow

According to close sources, the partnership contract states that C.Ronaldo gets a profit share of 14%. His job is to model for and promote the products while the Danish partner is in charge of manufacturing and selling the fashion line.

Cr7 Models Undies
Cristiano Ronaldo enthusiastically models for his own brand

The most recent yearly profit report is from 2019. According to the report, the star and JBS have brought home a total of 12,6 million USD. In another word, last year, Ronaldo profited approximately 1,7 million USD from this partnership, as per the 14% share they have agreed upon.

However, even without his profit share, we doubt that CR7's lavish lifestyle will change even the slightest.

Cr7 Helicopter
C. Ronaldo certainly won't miss the 14% share that he gave away

The current pandemic has hurt LBS’s sales. Fortunately for them, Cristiano Ronaldo expressed his generosity by forgoing his share of the profit. This gesture will help get his partner back in their feet. Furthermore, JBS’s Director Michael Alstrup has revealed that not until the end of 2021 that Ronaldo will once again take his share of the profits.

Some of our readers certainly miss seeing C. Ronaldo playing now that matches are all canceled. Don't be upset, here's a clip of CR7's best actions throughout the year to wake up the athlete in you:

Don't forget to visit us at Starbiz regularly for the latest updates on both Indian and international celebs! Stay home and stay safe!

>>> Suggested for you: Unseen Pictures Inside Luxury Love Nest Of Virat Kohli and Anushka Sharma

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