no sponsors

Six months after the Olympics, the contracts between private sponsors and the Brazilian Olympic Committee (COB) haven't been renewed and the entity isn't receiving payments anymore from the three main sponsors. The long term sponsorships Nike Nissan (both since 2012),  and Bradesco (since 2010) ended after special deals up till the Olympics Rio 2016.."All of the sponsorship contracts expired on December 31st, 2016, and now the COB is in the marketplace negotiating a new commercial plan with corporations interested in supporting Olympic sports through the Tokyo Games in 2020", the Committee informed a reporter. Without contract renewals between COB and corporations, the primary source of revenue for the committee becomes the Lei Piva. This national law earmarks a percentage of lottery receipts from the Caixa Econômica Federal Bank to Olympic and Paralympic sports in Brazil.

The entity expects to collect around R$ 210 million (US$ 69 million) in resources from the lotteries in this upcoming year. Till than it is unsure how the athletes, federations and organizations will get money without sponsors.

(source Folha SP)