Corinthians extend Nike deal until 2029
The American sportswear giant will continue to provide sports equipment for the Campeonato Brasileiro Série A outfit for the duration of the contract.
Nike is believed to have paid R$25 million (US$7.6 million) for the agreement extension. It currently pays R$30 million (US$9 million) a year to Corinthians.
The news comes after the club announced the renewal of their shirt-sleeve partnership with Minds Language. In February, Corinthians signed an extended deal with the Estrella Galicia brewery until 2021.
Nike first agreed a sponsorship deal with the team in 2003, which was due to expire in 2025.
Corinthians finished a comfortable nine points clear of local rivals and last year’s title winners Palmeiras, at the top of Campeonato Brasileiro Série A in 2017. They lost their last fixture away against Sport Recife on 3rd December 1-0, and will face local home-city team Ponte Presta in the first round of São Paulo state competition the Campeonato Paulista on 17th January.
The latest commerical details, groundbreaking interviews and industry analysis, free, straight to your inbox.
Sign up today to receive the newsletter.
With the increasing value being attributed to young players, this report provides insight into the hottest prospects on the market.
Soccerex Football Finance 100 is an exclusive annual report that compiles a ranking of the world’s most financially powerful clubs.
Follow us on twitter to receive our latest market insight, industry interviews and news about our upcoming events.