Adidas And Flamengo Continue To Negotiate Details Of 10-Year $229M Kit Deal
Adidas and Brasileiro club Flamengo "have come to an agreement" regarding the number of sponsors the Rio team would be allowed to have on its jersey if the two sides agree to the reported 10-year, R$465M ($229.3M) sponsorship contract being discussed, according to Braga & Mendes of LANCENET.com.br. The club will be allowed to have "a maximum of three sponsors" on its jersey. In the latest discussions regarding the topic, the German company asked that "only two spaces on the jersey be negotiated." Flamengo refused, and the two sides agreed to three sponsors. The number "is inferior" to the current four sponsors with which Flamengo currently has deals. If adidas does become the kit supplier of the club, the three additional sponsors "should produce revenue" of R$45M ($22.2M). That number is based on the expectation that the team can negotiate a R$25M ($12.3M) main jersey sponsorship agreement, something the marketing department failed to do this season. Should Flamengo accept adidas' proposal, the German company hopes to have the contract signed "at the start of November" (LANCENET.com.br, 10/23).