Meat Company Sadia 'Abandons' Sporting Sponsorships, Reduces Amount By $27M

After two years of "aggressively entering sports" through several sponsorships, Brazilian meat production company Sadia is "abandoning" deals, according to Erich Beting of MAQUINA DO ESPORTE. Under new management, the company "decided to reduce its costs of sporting sponsorships" by R$80M ($26.5M). Recently, the company "did not renew its contract" with the Brazilian Gymnastics Federation (CGB) and, last week, "ended the partnership" with the Brazilian Judo Federation (CBJ). In October, Sadia's contract with the Brazilian Swimming Federation (CBDA) "will have its turn to expire." In '13, the company made a $12M, "10-year deal" with the Brazilian Football Federation (CBF). Sadia's contract with the CBF "has been renegotiated"; however, large fines "hinder the early end of the contract" (MAQUINA DO ESPORTE, 5/12).