Itau banks on CBF for eight more years

Banking group Itau has extended its sponsorship of the Brazilian Football Confederation (CBF) by a further eight years.

Itau will back the Brazilian national team through October 2022 under the new agreement, the financial terms of which were undisclosed. The previous contract was due to expire in October 2014.

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.

In September, the CBF made Korean electronics giant Samsung its 13th commercial partner ahead of its home 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 2012.

The CBF’s sponsor roster also includes Nike, Vivo, Guarana Antarctica, Nestle, Extra, Gillette and Volkswagen.