Correios, the Brazilian postal service, has renewed its sponsorship deal with the Brazilian swimming federation, but at a lower price than the previous deal.
SwimChannel.net reports that Correios has renewed its deal after speculation that the postal service would end its support of the federation after the Rio Olympics. According to SwimChannel.net, “political and economic crisis” in Brazil suggested that the CBDA – the federation that governs swimming, diving, water polo and all aquatic sports in Brazil – might lose its deal with Correios. But the post office’s president Guilherme Campos said those rumors were “mere speculation.” Correios will renew its deals with the CBDA as well as the Brazilian handball federation and the nation’s tennis federation. However, Brazil’s “Sport Machine” news service reports that the total sponsorship commitments have dropped from 300 million Brazilian real (about $92 million in U.S. Dollars) last year to just 180 million real (about US$55 million) this year, with 2018 likely to cut that number in half.
The CBDA has had its share of issues lately. Longtime president Coaracy Nunes was accused of fraud by the federal police last month after an investigation allegedly showed overbilling and embezzlement within the federation. Nunes was officially removed from his post along with 3 other CBDA officials last week, though Nunes claims the allegations are part of a smear campaign by his political opponents leading up to next year’s election for CBDA president. Nunes’ attorney has promised to appeal the decision removing Nunes from office.
The CBDA will also have to deal with a reduction in national funding, according to SwimChannel.net. The federation received $48.7 million in state sponsorship between 2014 and 2016, per the SwimChannel site, but will see that funding reduced over the next Olympic cycle. Many of Brazil’s top junior swimmers – including Olympian Brandonn Almeida and sprint phenom Felipe Ribeiro – have elected to leave the country for the United States after verbally committing to U.S. college programs.