Corinthians is renewed with Nike in a new billionaire contract.
The new contract with the sports equipment provider can produce up to $ 1.3 billion at the São Paulo Club by 2036
The Corinthians hit the hammer and officially renewed Nike Tuesday for another ten years. The US trademark, the club’s partner since 2003, will continue to wear Timon by 2036. The new agreement provides for a fixed payment of $ 59 million per season, which will be adequate every year and can reach up to $ 1.3 billion at the end of the bond, considering bonuses for performance, sales and other variable earnings.
The renewal officially ends any possibility of hitting Adidas, which has negotiated with the club in recent months. Nike accepted the terms proposed by the Council and ensured not only a significant increase in the value of the contract (more than double the current), but also a series of improvements requested by the Corinthians, in particular as regards the quality and delivery of the materials, something that has been criticized by fans.
In addition to the sturdy fixed value, the contract provides for flexibility and commercial advantages, such as the resignation of Nike, part of the profits of authorized products manufactured by other brands (such as the partnership with approveing in 2023) and the forgiveness of the debts regarding the supply of materials in addition to the established fee. Only in the last year, the club initially exceeded 8 million dollars.
Another important point that weighed the decision was to avoid a legal dispute. Nike had unleashed an automatic renewal clause valid until 2029, made via Fisia, the brand’s distributor in Brazil. The Corinthians, however, did not recognize the validity of the bond. With the signing of the new Memorandum of Uncocol by Omar Stabile, interim president of the club, the problem is now overcome.
With the new contract, the Corinthians will continue to be the only Serie A club currently sponsored by Nike, a position that strengthens the weight of the brand within the company’s strategy in Brazil. In 2026, Atletico-Mg and Vasco should join Timão in this partnership with the American supplier.
Source: Terra
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