Brazilian soccer club Flamengo have agreed a record new kit supply deal with Adidas.
The Rio-based side have signed a ten-year agreement with the German sportswear giant which according to Veja is worth at least R$383 million (US$175.24 million), making it the biggest ever signed by a Latin American club. That figure could rise to as much as R$428 million (US$206.62 million) should Flamengo meet various performance targets in the Brasileirão, Copa do Brasil and Copa Libertadores.
However, there is reportedly also scope to reduce the value of the deal if Flamengo drop below 13th in Brazil's Serie A and it could be halved in the event of relegation and a two-year stay in Serie B.
The two parties are now set to embark on an agressive international marketing campaign as Adidas seeks to raise Flamengo's profile to a similar level to its other major teams, AC Milan, Chelsea, Bayern Munich and Real Madrid.
Flamengo president-elect Eduardo Bandeira de Mello said: "We are pleased by the values of the contract. But, above all, by the fact that Adidas put Flamengo at the same level of the top four clubs in the world sponsored by it."
Fernando Basualdo, the chief executive of Adidas in South America, added: "As global leaders we are always close to the best of the winners. And that brings us to the reason we are partnering with Flamengo. I want to reinforce our interest in adding to Flamengo to the big four teams that Adidas sponsors worldwide, in order to internationalise the Flamengo brand, to provide the 38 million fans of the club with Flamengo-Adidas products together and build a Flamengo brand for the whole world."