The board of directors of Flamengo, the heavyweights from Brazilian soccer’s top-tier Serie A, has confirmed the club’s kit supply renewal with Adidas, the German sportswear giant, until December 2025.
The two-year extension, which comes into effect in June next year (when the current deal between the pair, struck nine years ago, is due to run out), is worth R$69 million ($12.2 million) a year, according to local media.
The new deal means Adidas will earn 35% from the sale of each Flamengo matchday shirt – up significantly from the current figure of between 10% and 14%.
Adidas and Flamengo first partnered in 2013, entering into the decade-long deal that will come to an end in May next year.
Adidas has also secured the right to create its own Flamingo-based casual clothing brand and will be able to sell the team’s kit via its online stores.
The club, according to reports, expects to increase its merchandise-based revenues by R$50 million ($9.1 million) each year off the back of this partnership extension.
In late December, Flamengo brought in sports betting company PixBet as its sleeve sponsor.
The deal, which sees PixBet replace Sportsbet.io, is reported to be worth a total of R$48 million ($8.38 million) divided into four $12 million installments, the first of which is to be paid immediately.
This broadens PixBet’s presence in Brazilian soccer, which includes the likes of Vasco da Gama, America-MG, Juventude, Ponte Preta, and Cruzeiro.