Portugal Telecom Renew Sponsor of League Leaders Porto
March 18, 2011
Portuguese Primeira Liga soccer club FC Porto has announced a renewed agreement with Portugal Telecom that will see the company remain as official shirt sponsors for a further four years.
A figure believed to be around US$5m a year could potentially rise depending on the club’s performances, medicine both in the league and in European competitions as the club look certain to qualify for the Champions League next year, sitting 13 points clear of rivals Benfica at the top of the league.
Portugal Telecom’s previous six-year contract with the club, worth around US$30 m, was due to expire on 30th June, but the company will remain in partnership until at least 2015 with the club having won the league title four times in a row during its sponsorship.
Portugal Telecom is the largest telecommunications service provider in Portugal and also has sponsorship agreements in place with FC Porto’s Primeira Liga rivals Sporting Lisbon and Benfica. In 2010, Portugal Telecom signed a contract extension with the Portuguese national team, which will see it continue to sponsor the team until 2014 – a partnership that has been ongoing since 1998.
In an official statement, FC Porto announced the deal, stating: “Futebol Clube do Porto, under Article 248 of the Securities Code, hereby informs the market that it has agreed a sponsorship contract with Portugal Telecom, effective until June 30, 2015.”
Portugal Telecom is likely to continue its policy of promoting different companies on Porto’s home and away shirts, mobile network ‘tmn’ on the home shirts, and IPTV service ‘meo’ on the away shirts.