Nike renewed and extended its sponsorship of Brazil’s soccer club, Sport Club Corinthians Paulista, until 2029.
Nike is believed to have paid R$25 million (US$7.6 million) for the agreement extension, according to Sports Business Daily. It currently pays R$30 million (US$9 million) a year to Corinthians.
Nike first partnered with the team in 2003 and the current contract was current due to expire in 2025.
