French tyre company Michelin has become the latest company to sponsor Brazil’s national soccer team.
The new five-year deal, announced at the Brazilian Football Confederation (CBF) headquarters in Rio de Janeiro on Wednesday, sees Michelin join 14 other companies in supporting the five-time world champions.
While no financial terms were released, it is the first time Michelin has invested in a sports sponsorship outside of motorsport.
“I am very happy with this partnership, which I am sure will bear good fruit,” said CBF president Jose Maria Marin.
The deal with Michelin is the eighth new agreement signed by Marin since he became CBF president in March 2012, following tie-ups with Sadia, Samsung, Gol, MasterCard, EF, Unimed Insurance and, in the only other partnership signed since this summer’s Fifa World Cup, Chevrolet.
A renewal with Itaú, which runs until 2022, has also been signed under Marin.
According to Brazilian sports marketing site Máquina do Esporte, the CBF has three contracts, with Vivo, Extra and Nestlé, due to expire this year. Negotiations with all three are ongoing, the site reports.