The Industrial and Commercial Bank of China is negotiating with Brazilian football team Grémio Esportivo Brasil, from the state of Rio Grande do Sul, to be the team’s main sponsor on its football shirts and to name the new stadium that is under construction.
Representatives from the bank have been in Brazil since Monday in order to finalise the details of this deal, which will require the Chinese bank to pay the team 34 million reals (US$16.7 million) per year.
Cited by the Brazilian press, Eduardo Antonini, chairman of Grémio, a football club based in the city of Pelotas, confirmed that the deal was about to be closed although some small details had yet to be agreed.
This deal, if it goes ahead, will be the second of its kind in Brazil following the deal between Clube Atlético Paranaense, a football team from the city of Curitiba in Paraná state, and Japanese group Kyocera Corporation. (macauhub)