Government-owned bank Caixa Economica Federal has entered into a partnership with the Brazilian National Basketball League (LNB), under which it will become the title sponsor of the top-tier NBB men’s club competition.
Caixa has agreed a four-year deal, which will run until March 2020. Financial terms of the agreement were not disclosed, although the deal is widely reported to amount to R$32m (€7.8m/$8.8m). The LNB confirmed it was the “largest ever” contract signed by the body.
The league will now officially be titled NBB Caixa. The bank’s branding will also appear on the floors of all arenas, and it will receive courtside exposure through advertising boards.
The partnership will begin with this weekend’s NBB All-Star Game, which will take place in Mogi das Cruzes, Sao Paulo. Caixa will organise a range of activities to promote the two-day event.
In addition, Caixa will take on the naming rights to the Women’s Basketball League, which will now officially be titled LBF Caixa for the next four years.
Caixa and the LNB will also team up on a number of social and environmental initiatives, such as the NBB Caixa Social award, which will be given to the team that produces the “best social project” during the season.
“Having Caixa on our side with a four-year contract only motivates us even more to continue showing that the NBB is really a great product,”João Fernando Rossi, vice-president of the LNB, said. “We will show that we are able to be a Caixa partner for 20, 30 years.”