Philips will give its name to PSV Eindhoven’s stadium for a further 10 years after the two organisations extended a partnership that has lasted more than a century.

The top-tier Dutch Eredivisie team’s 35,000-capacity venue will be called Philips Stadion until 2031, while the organisations’ innovation partnership has also been extended to the same date. PSV and Philips will collaborate on new innovations that will encourage the club’s professional sports climate, such as the PSV Top Performance Center.

PSV said the partnership – which dates back to 1913 – is of particular value in the field of health, with Philips strategically refocusing on technology within that sector.

“Philips is at the roots of our club’s past, present and future,” said Toon Gerbrands, PSV’s general director.

“Now, more than ever, we understand how special that is. What we took for granted earlier this year has now proven to be invaluable: the support and commitment of important partners.

“Philips is undergoing a massive transformation into a health technology company. Their expertise and innovations in the field of medical technology are vitally important to society. We also use them to lift the performance and health of our players, staff and employees to a higher level. That makes our partnership perhaps even closer than ever before.”

Philips will also be the first partner to extend its participation in the Brainport-PSV Partnership innovation project by another five years, to 2026.

The project, which also includes other prominent businesses such as ASML and Jumbo Supermarkets, encourages collaboration to benefit technological development across the Dutch region.

“Philips has deep roots in Eindhoven, and we are closely tied to PSV and the Brainport region. The region is unique in the world because we constantly lead the way in technology, stimulated by a close collaboration within the regional ecosystem,” said Frans van Houten, chief executive of Koninklijke Philips.

“Especially in these challenging times, when nothing seems self-evident, we believe it is important to express our affiliation and social tie to the club and to the region. That is why we, as the founder of PSV, have decided to commit to extending our relationship with PSV by another 10 years. Together, we can lay a strong foundation for further success in the future.”