Flamengo Agrees To One-Year Deal With Caixi As New Major Shirt Sponsor
Brasileiro club Flamengo has agreed a one-year deal with government-owned financial institution Caixa "to become its new main shirt sponsor," according to SOCCEREX. Caixa will pay a reported R$25M ($12.4M) "for the right to display its logo on the Rio de Janeiro club’s shirt," with current main sponsor Peugeot "moving to the back of the shirt." The deal "has yet to be granted final approval by the club’s advisory board." However, the deal was made possible after Flamengo "was able to demonstrate that it has cleared all tax debts with federal, state and municipal enterprises." The partnership comes after Corinthians agreed to a shirt sponsorship deal with Caixa in November, with the club claiming that "the agreement marked the most lucrative of its kind in Brazilian football." Caixa is paying $14.9M for the right to display its logo across the front of the São Paulo club’s shirts through the end of the year (SOCCEREX, 5/8).