January 10 – Brazilian giants Flamengo have renewed their sponsorship deal with sportswear giant Adidas until 2025 for a value of at least €10.7 million a year.
The Rio club and Adidas have been partners since 2013, and, while the relationship has not always been smooth with Flamengo complaining that Adidas didn’t consider the club enough of a global brand, the two parties have extended their agreement for another four years.
In the past, Flamengo received roughly €6.2 million a year from Adidas, the increase to €10.7 million also comes with an improved deal on royalties.
In December, the club signed off on sponsorship deals worth €11 million. Pixbet will replace Sportbet as one of the shirt sponsors in a deal that runs through until 2023 and will be worth €7.5 million. Havan, a chain of shops and another shirt sponsor, will invest €2 million this season. In total, Flamengo’s shirt will be worth roughly €30 million over the next few seasons.
Last season, the Rio club finished second in the Brazilian top flight behind champions Atletico Mineiro and in the final of the Copa Libertadores, South America’s premier club competition, Flamengo lost to Sao Paulo rivals Palmeiras 2-1 to end 2021 on a low.
Contact the writer of this story at moc.l1734980451labto1734980451ofdlr1734980451owedi1734980451sni@i1734980451tnuk.1734980451ardni1734980451mas1734980451