Soccer-PSV sign 22.5 million euro contract with Philips

AMSTERDAM, Nov 6 (Reuters) - Dutch champions PSV Eindhoven have signed a new 10-year sponsorship deal worth 22.5 million euros ($24.19 million) with Philips (PHG.AS), the Dutch healthcare systems and lighting group, the club said on Friday. Philips this year said it would be stepping down as the club's main sponsor but the deal means they keep a motif 'Philips founder PSV' on the sleeve of team shirts from next season as well as naming rights to the club's stadium. PSV will receive 3 million euros for each of the next five years and an annual sum of 1.5 million euros for the remainder of the contract. Philips has been the main backer of the former European champions for over a century and the decision to withdraw as the club's main sponsor came as a surprise. Philips factory workers set up the club in 1913. PSV are searching for a new sponsor, both locally and internationally, general manager Toon Gerbrands told a news conference. ($1 = 0.9302 euros) (Reporting by Mark Gleeson; Editing by Ed Osmond; mark.gleeson@thomsonreuters.com; +27828257807; Reuters Messaging: Reuters Messaging: mark.gleeson.thomsonreuters.com@reuters.net)