Brazilian football club Santos have announced the signing of a major sponsorship deal with Chinese technology firm Huawei.
The agreement, for an undisclosed sum, is valid until the end of 2014 with the option of an extension, the Brazilian club announced Tuesday, reports Xinhua.
"This is an important announcement because we are forming a partnership with one of the world's biggest technology companies," Santos president Odilio Rodrigues said.
Under the terms of the deal, the Shenzhen-based firm will have its name and logo displayed on the front of Santos' jersey for both Copa do Brasil and Brazilian Serie A matches.
Santos marketing manager Fernando Montanha described the chances of signing an extension as "enormous". The deal ends Santos' 20-month search for a major sponsor.
The deal is expected to alleviate a financial strain on Santos, who posted a loss of $20 million last year.
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