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Electronic Arts' value plummeted by a whopping £660m in the hours after Konami signed a lucrative partnership with Juventus.
The Italian champions' name, club crest and official kits will feature exclusively in the upcoming eFootball Pro Evolution Soccer 2020 and will not appear in FIFA 20.
And in the hours after the news of Konami's partnership EA's shares have dropped.
According to CNBC, the American publisher's shares dipped by 3.28 per cent on Tuesday and it has cost the company £660m.
Shares for EA were at £74.46 on Tuesday at 9.30am UK time before they fell to £71.42 at 11am.
EA was worth £22.76billion on 15th July and the value of the company dropped to £22.1billion on 16th July.
EA is one of the largest gaming publishers in the world and is responsible for popular franchises like The Sims and Battlefield.
And EA Sports' FIFA franchise is one of the company's most popular titles and is released annually.
We are delighted to reveal our brand new EXCLUSIVE Partnership with #eFootballPES2020 and @officialpes!
Create some magic moments with the stars of our team in the ONLY football video game you can this year :raised_hands:#JUVxPES https://t.co/l4TZC41oEp pic.twitter.com/98UApa5iNg
- JuventusFC (@juventusfcen) July 16, 2019
CNBC says that the publisher's securities filing in May found that the three most recent installments in the franchise made up 14 per cent of its total net revenue.
Konami's partnership with Juventus will run for the next three years and the likes of Cristiano Ronaldo and Paulo Dybala have been full-body 3D scanned into PES 2020.
EA Sports revealed on Tuesday that players' faces and names wouldn't be changed for FIFA 20.
But the FIFA publisher confirmed that Juventus would be rebranded as 'Piemonte Calcio' after losing the licensing rights to Konami.
EA will introduce a custom badge and kits for Piemonte Calcio to use in kick-off mode, career mode and Volta Football.
The Allianz Stadium will not feature in FIFA 20 as a result of Konami's partnership, while Juventus star Miralem Pjanic has been named an ambassador for PES 2020.
Juventus' arrival in PES 2020 marks the first time in 25 years that EA won't have access to their license in the FIFA series.
EA might have lost the Juventus license, but the publisher announced on Tuesday a long-term partnership with Liverpool to produce content for FIFA 20.
FIFA 20 is slated to launch on 27th September. It will be released on Nintendo Switch, PlayStation 4 and Xbox One.
We have teamed up with creator of the @EASPORTSFIFA game series, @EASPORTS, in a new long-term partnership. :soccer::raised_hands:
Get ready to break new ground with the Reds in #FIFA20. :red_circle: #VOLTAFOOTBALL
- Liverpool FC (@LFC) 16 July 2019
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Featured Image Credit: PA/EA Sports
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