Grêmio Closing In On Naming-Rights Deal To New Stadium With Chinese Bank

Brasileiro club Grêmio "is close to selling the naming-rights" to its new stadium to Chinese bank ICBC Bank, according to PLACAR. Representatives of the "largest bank in China" arrived in Brazil on Monday to conclude the negotiations. Grêmio President Eduardo Antonini confirmed that "the agreement is close to being signed." The executives from both parties "are only negotiating a couple small details." Indications are that the club "will receive approximately" R$34M ($16.7M) annually in the deal. Grêmio "is also working on a deal" with adidas, which could become the new kit supplier of the team (PLACAR, 10/29).