By Samindra Kunti
May 7 – Rio de Janeiro giants Flamengo will renew their club sponsorship deal with Brazilian bank Caixa, worth €7.3 million, this week. Flamengo’s shirt is projected to have a total sponsorship value (shirts carry more than one sponsor logo) of €26.1 million this season.
Flamengo is Brazil’s biggest club with an estimated 35 million fans around the country. In recent seasons results have been disappointing, but the aura of the Rio club, which once had Zico in its ranks and later as its manager, remains unsurpassed. Next week Brazil’s national championship begins. Earlier this season Flamengo were eliminated by rivals Vasco Da Gama in the semi-finals of the Rio state championship.
Sponsors are lining up to enjoy the brand marketing that Flamengo can uniquely provide. Brazilian bank Caixa will sponsor Flamengo’s shirt for the remaining seven months of the season for a sum of €7.3 million upon the approval by Flamengo’s board tomorrow. Caixa also sponsor Corinthians and Vasco Da Gama.
Flamengo has deals with major brands Jeep, Adidas, Louis Vitton and mobile operator TIM, making its sponsorship agreements among the most lucrative in Brazilian football. Adidas contributes €11.1 million, Louis Vitton chips in with €5.8 million euros, Jeep pays €1.1 million and Tim adds €730,000.
Last season Flamengo bagged €22.8 million in shirt sponsorship but this is set to be eclipsed by this season’s projected €26.1 million, and it could be more. All the deals run until December 2015 when the mandate of the current Flamengo board ends and new elections will be held.
The club has disclosed it is still in talks with two other potential shirt sponsors to ramp up its income further from commercial agreements.
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