Government-owned bank Caixa Economica Federal has expanded its partnership with Santos to become the long-term main sponsor of the Campeonato Brasileiro Serie A football club.
The two parties have agreed an initial one-year deal, covering the 2017 season. As part of the agreement, Caixa’s branding will feature on the front of Santos’ shirts, and on the team’s shorts.
Financial terms of the agreement were not disclosed, but the Maquina do Esporte website reported that the deal will be worth an estimated R$16m (€4.8m/$5.2m), a figure which includes performance-related bonuses.
The announcement comes after Caixa agreed a short-term deal with Santos last October. Its branding appeared on the club’s shirts for the remainder of 2016, with Santos having confirmed at the time that negotiations over an extended deal were already underway.
“It's a very important partnership because it goes beyond sponsorship for the professional team,” Sidney Soares Filho, superintendent of Caixa in the Baixada Santista region, said. “It also involves other benefits for employees and partners. And we're still thinking about specific products for all fans. Supporting the sport is extremely important for our country.”
Caixa will serve as a shirt sponsor of Santos alongside SIL, Algar and Royal Air Maroc. Santos has been without a long-term main sponsor for more than three years.