The 2016 Olympic Games in Rio has signed up its first domestic sponsor. Bradesco, Brazil’s second-largest bank, has agreed to pay at least $320m, the minimum sum set by the games’ organising committee for the finance and insurance services categories.
Carlos Nuzman, organising committee and Brazilian Olympic Committee boss, said backing the games provided a “unique platform and incomparable opportunity”.
The deal also encompasses marketing rights associated with the Brazilian Olympic Committee.
Further details will be unveiled on Thursday during the official launch of the 2016 Olympics domestic sponsorship programme.
Last week, Rio’s security issues were highlighted after another wave of gang violence erupted in the city.
Clashes between the police and drug dealers, which left at least 45 people dead.
The army and the police have now retaken control of drug traffickers’ strongholds inside a number of favelas.
But the Olympic Games organisers and their partners say they want to focus on a positive agenda.
Carol Trabuco said: “In the eyes of the world, it [the Rio Games] is going to be the celebration of Brazil with its positive agenda, modernity, work, social inclusion, and economic development. We have a chance for the world to see past the stereotypes.”
Bradesco was the country’s biggest private bank until the merger of Banco Itau and Unibanco in 2009.