Nike Signs Brazilian Teams For $200 Million

Nike has signed the Brazilian national soccer team to a 10-year contract that puts the athletic shoe and apparel company into the sports promotion business.

The Oregonian quoted unidentified sources as saying Nike paid $200 million to outfit all Brazilian national teams, with the men’s soccer team the big prize because of its prominence in the sport.

Nike spokesman Jim Small wouldn’t confirm the figure, but he said Brazilian soccer is worth as much as any athletic franchise in the world.

“This is a very special team,” Small said. “Probably in no other sport is there a team held in such reverence.”

The agreement gives Nike the right to sell replica jerseys and the right to stage five exhibition games each year featuring the Brazilians.

Nike Sports Entertainment, a newly created division designed to stage and promote sporting events, will be in charge of the games, selling television rights and advertising at the stadiums.