I didn't really pay much attention when Fiat's sponsorship of Italian football giant Juventus was announced back in April. The deal, worth 35 million Euros, begins next month and runs for three seasons.

The name of the Fiat-owned Jeep brand will be emblazoned across the chest of the Juve team shirt during the 2012/13 season. And at Tuesday's launch of the stonking new Grand Cherokee SRT, I got an insight into the value of such tie-ups.

I remarked to Yann Chabert, Jeep's European marketing director, that the sponsorship deal seemed an odd fit for such a rugged brand. He reminded me that the Fiat-founding Agnelli family and Juve club go way back, with Edo Agnelli having owned the club in the early 1920s, and he reckoned that Jeep and the football club share three core values - authenticity, passion and performance.

The figures he then told me helped it make sense.

Juventus has about 11.2 million fans in Italy, and approximately 35m across Europe. But as well as competing in the domestic Serie A, the team has also qualified for the next Champions League campaign, which will put it on the televisions of an estimated 300m people around the world.