The Brazilian Football Confederation (CBF) has sealed an eight-year extension to its sponsorship agreement with telecommunications brand Vivo, part of the Telefonica Group.
The deal is thought to be worth around R$40m (€12.8m/$15.2m) per year, less than the CBF's initial asking price, Sports Sponsorship Insider has learned.
Under the agreement, which is effective until January 2023, Vivo remains as the exclusive sponsor of national team communications for Brazil’s men’s and women’s squads.
The partnership between CBF and Vivo began in 2005.
Vivo will continue to provide exclusive content relating to the national team for customers via its Eu Vivo Esporte platform.