December 10 – In 1996 the Brazilian Football Federation (CBF) and Nike teamed up for a partnership worth a reported $35 million per year. On Friday a new deal was announced, and times have changed!
The new contract between the five-time World Champions, and the sportswear behemoth is now worth $100 million per year.
This agreement, which extends their partnership until 2038, also includes royalties from the sales of the iconic yellow and green national team shirts, a new element that was not part of previous contracts. It is estimated that with these royalties, the annual value could reach as much as $120 million.
The previous deal was due to expire in 2026, however, both parties were keen to extend a collaboration despite the Seleção Canarinho only winning one World title this century, way back in 2002 at the South Korea/Japan World Cup.
“This contract shows the strength of Brazilian soccer,” CBF president Ednaldo Rodrigues said.
“This is one of the longest and most successful partnerships in soccer and, together, we will keep celebrating the brilliance of Brazilian soccer and honor the jogo bonito legacy.”
Doug Bowles, Nike’s vice president for Latin America said the deal “strengthens our old commitment with Brazilian soccer.”
Nike kits are worn by Brazil’s men’s and women’s teams of all ages, plus by the beach football and futsal teams.
The partnership between the two has produced memorable moments off the pitch as well, including one of the best football commercials of all time prior to the 1998 World Cup. See: https://www.youtube.com/watch?v=wP5Ye5-LES8.
Whether Nike can make a profit on this deal will depend on results on the pitch though, and with Brazil going through an all-time slump (currently 5th in Conmebol World Cup Qualifying), the company famed for ‘Just Do It’ will be hoping Brazil live up to the companies motto.
Contact the writer of this story, Nick Webster, at moc.l1734918324labto1734918324ofdlr1734918324owedi1734918324sni@o1734918324fni1734918324