Rio 2016 signs first sponsor

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The Rio 2016 Olympic Games has signed its first domestic sponsor, with exclusive rights in the Finance and Insurance Services categories. Thus, as of 2011, Bradesco will be able to use the right to associate corporate brand to Rio 2016 Olympic Games and to the Brazilian Olympic Committee.

Bradesco, the South American country's second–largest bank, will pay at least $320m (£205m) towards the running and organisation of the games, which is the minimum sum required by the games' organising committee. Carlos Nuzman, head of the organising committee and Brazilian Olympic Committee, said that the chance to support the event provided " a unique platform and incomparable opportunity" . Luiz Carlos Trabuco, chief executive of Bradesco, 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. " In late November 2010, property specialist Samantha Gore from UV10 said that the 2014 FIFA World Cup would boost the market for property in Brazil and give the country an opportunity to demonstrate how much it has developed in recent years.

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