"Today I made a decisive choice for my career and my life," explained Del Piero. "Juventus have given me a lot and I want to continue winning here.
"The negotiations that took us to this signature were long and at times complex, but I wish to underline the effort put in from Jean Claude Blanc, Alessio Secco, my brother Stefano and Dario Tosetti, President of the Family Office who has been assisting me for 10 years."
Brother Stefano is also Del Piero's agent and he engaged in day-long talks at the club's Turin headquarters today to find an agreement.
"I am relaxed and confident, because I share the project that I am sure will enable us to give our fans some wonderful moments," continued the World Cup winner.
Juventus hinted in their Press release that Del Piero has indeed accepted a 20 per cent pay cut, which will go to 25 per cent for 2009-10.
"The agreement underwritten gives an economic recognition to a world class player, but also allows us to further develop the image potential of the captain in sectors and countries that are still unexplored, thanks to the full collaboration of the Juventus commercial structure."