Corinthians Extends Kit Deal With Nike Worth $145M Over 10 Years
Brasileiro club Corinthians has agreed to a contract extension with kit supplier Nike worth R$300M ($145M), according to Reis & Macedo of FOLHA DE S. PAULO. Team President Mário Gobbi confirmed the news in Japan, where the team is playing in the FIFA Club World Cup. Corinthians' current kit deal with Nike was due to expire at the end of the '14 season, but it has now be renewed through '22. The agreement is worth "practically double the amount of the current deal" (FOLHA DE S. PAULO, 12/9). UOL's Bruno Thadeu reported the deal was negotiated in U.S. dollars. Gobbi said, "This negotiation for Corinthians was negotiated in dollars, because we do not know what things will be like in five years. It is an interesting sum, which puts us with the top clubs in the world." With the new deal, Corinthians will continue to have the most expensive jersey in the Brasileiro. The club will now earn R$72.5M ($35M) a season from sponsorships: Nike (R$30M/$14.5M), Caixa Econômica Federal (R$30M/$14.5M), Fisk (R$10M/$4.8M), and Tim (R$2.5M, $1.2M) (UOL, 12/9). IG's Bruno Winckler reported the new deal with Nike is the "largest kit deal" in the history of the Brasileiro. However, adidas is currently "negotiating a contract with Flamengo worth R$380M ($183M) over 10 years, which could surpass Corinthians' deal" (IG, 12/9).