Fiat workers call strike over Cristiano Ronaldo.
The Italian club will also pay additional $19 million as part of FIFA's solidarity mechanism. The motoring giant has been forced to lay off thousands of workers over the years over the company's lack of new vehicle models.
Fiat Chrysler Automobiles, who have their Jeep logo as the main sponsor of the Vecchia Signora's merchandise, expect a significant increase in vehicle sales over the next four years, with a target of 3.3 million units by 2022.
Fiat has promised that, with its new investment scheme, all employees will be able to return to full employment by 2022.
The workers at one FIAT plant are set to strike from Sunday until Tuesday, the BBC reports, with the USB union citing the need to invest in the futures of the thousands of workers and their families "rather than enriching only one".
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"It is unacceptable that while FCA and CNHI workers continue to make huge economic sacrifices, the company then spends hundreds of millions of euros on the purchase of a player", a statement from the USB (Unione Sindicale di Base) read.
The reigning Serie A Champions, Fiat Chrysler Automobiles (FCA) and CNH Industrial (CNHI) are all owned by a holding company Exor and a trade union prompted Fiat workers to down their tools.
The 33-year-old will sign a four-year deal, taking him to when he is 37.
Ronaldo has established himself as one of football's greatest ever players during his time at Madrid and he helped the Spanish side to win the Champions League for the third year running last season. The plant manufactures two Fiat models, the Punto and the 500X, according to the BBC.