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EA slides after losing licensing rights to Cristiano Ronaldo's team Juventus for FIFA 20

Key Points
  • The rights to Juventus are now with Konami, a Japanese company which develops Pro Evolution Soccer.
  • EA said in a news release that Juventus players will be available in future games but with a fictional club called Piemonte Calcio.
  • The company said in a securities filing in May that net revenue from the three most recent versions of FIFA represented 14% of its total net revenue.
Cristiano Ronaldo of Juventus evades challenge from Frenkie de Jong of Ajax during the UEFA Champions League Quarter Final second leg match between Juventus and Ajax at Allianz Stadium on April 16, 2019 in Turin, Italy.
Chris Ricco | Getty Images Sport | Getty Images

Shares of Electronic Arts slid 3.28% on Tuesday after the video game company announced it no longer has a licensing agreement with Juventus, the Italian soccer club with Cristiano Ronaldo.

The rights to Juventus are now with Konami, a Japanese company which develops Pro Evolution Soccer. EA said in a news release that Juventus players will be available in future games but with a fictional club called Piemonte Calcio.

The FIFA franchise is EA's most popular game. The company said in a securities filing in May that net revenue from the three most recent versions of the game represented 14% of its total net revenue.

Versions of FIFA that have already been published will not be affected, the company said. The newest version of the game, FIFA 20, is scheduled for a Sept. 27 release.

Ronaldo is one of the most popular athletes in the world. Forbes listed him as the second highest-paid athlete earlier this year. 

Other video game stocks were outperforming EA on Tuesday, with Activision Blizzard down 1.42% and Take Two Interactive edging up 0.05%.

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