Brazilian Football Confederation Extends Partnership With Itau Bank Through '22
The Brazilian Football Confederation (CBF) has "further strengthened its commercial portfolio ahead of the country’s staging of the 2014 FIFA World Cup" by agreeing to an eight-year extension to its sponsorship deal with banking group Itau, according to SOCCEREX. Itau will back the Brazilian national team through Oct. '22 under the new agreement, "the financial terms of which were undisclosed." The previous contract was due to expire in October. CBF President Jose Maria Marin has "overseen five new sponsorship acquisitions for the national governing body since stepping into the role last year" but the Itau deal is the first "extension of terms under his stewardship." Marin: "The extension of this agreement with an institution that has the size and expression of Itau, is an eloquent demonstration of confidence in our work and the prestige and strength of our squad." The CBF made Samsung its 13th commercial partner in September ahead of the World Cup next summer. Airline Gol Linhas Aereas, health services firm Unimed Seguros and food company Sadia also "joined its roster earlier this year," while MasterCard struck a deal in '12 (SOCCEREX, 11/13). DIARIO DE GUARAPUAVA reported Itau "has sponsored the Brazilian national team" since '08 (DIARIO DE GUARAPUAVA, 11/13).