Brazilian soccer starlet Neymar has signed a two-year extension to his personal endorsement deal with Panasonic.
The deal was brokered by powerhouse Brazilian agency Traffic Sports on Neymar's behalf, and Dentsu on Panasonic's.
According to a source close to the deal, the new agreement is worth a seven-figure sum annually, three times the value of the original deal which was signed last year.
The 19-year old Santos player, who has scored 27 goals since his club breakthrough in 2009, will make several promotional appearances for Panasonic each year.
The Japanese consumer electronics corporation will receive worldwide advertising and promotion rights across a host of media platforms, including television, print, internet, mobile and sales promotion material.
As well as its operations in broadcast media and sponsorship, Traffic manages an investment fund worth just over US$24 million to take leading soccer players to new clubs. In January, this group was central to a deal that brought former Fifa World Player of the Year Ronaldinho home to Brazil from AC Milan to play for Rio de Janeiro club Flamengo.
2 years 1200000 2400000 Neymar – Panasonic