Corinthians, the Brazilian soccer team, and Batavo have signed a new US$8 million shirt sponsorship agreement - the largest in Brazilian club history. As part of the deal, which was announced by Brazilian soccer legend Ronaldo, Corinthians will sport the food and beverage manufacturer's logo on both the front and back of their shirts for 2009/2010 season.

The contract could rise by a further US$400,000 should the club become Brazilian champions or perform well in the Copa Libertadores, South America's premier international club competition, in 2010.

The presence of Ronaldo at Corinthians was of huge significance in the deal negotiations, helping to seal a massive coup for the Brazilian club given the current worldwide financial decline. Jose Antonio do Prado Fay, president of Perdigão, Batavo's parent company, said: "Ronaldo was of great importance for the agreement but the weight of Corinthians is much greater."

Corinthians, which was founded in 1910, won the inaugural Fifa Club World Championship and is one of the country's most popular teams. A 2004 survey estimated that the club had nearly 33 million fans.

Andrés Sanches, the club president, said: "I am very grateful to Batavo for recognising that the Corinthians have their value and establishing the largest contract in the history of Brazilian soccer."

The Corinthians also still plans to sell space on the sleeves and shorts of their uniform, however, they will only be entitled to 20% of the sponsorship amount and the remainder will be given to the striker Ronaldo.