A $160 million deal between Nike and Brazil is being investigated by US authorities on suspicion of corruption, it has been reported.
It comes amid a far-reaching probe into soccer’s governing body FIFA, which has seen the arrest of 10 senior officials suspected of fraud.
Central to the investigation is a 1996 sponsorship deal between Nike and Brazil, the Wall Street Journal reported.
According to the indictment papers, which refer to Nike as ‘Sportswear Company A’, Nike paid $40 million of the fee to a Brazilian ‘middle-man’ in Switzerland. The middle-man, a marketing firm called Traffic, allegedly used the payment for kickbacks and bribes.
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