After Superior Court of Justice of Madrid has accepted its claim for processing, the sports brand Nike has instituted a procedure for recognizing the Spain the arbitral award that adjudicated Vinicius to fulfill the sponsorship contract he signed until 2028 and decided to automatically break, according to the newspaper ‘Expansion’.
In addition, the soccer player real Madrid will pay damages Nike with up to 4.5 million euros in the event that it fails to comply with what was set at the time by Netherlands Arbitration Institutewhere any contractual discrepancy is expected to be resolved administratively.
Vinicius decided at that time not to pursue the said contract considering that the agreed terms were not being met because there were delays in one of the payments. However, the award given on April 14 sided with the brand, considering that the break was unjustified.
It forces Vinicius to carry the products exclusively Nike during their sporting activities, except for the official kit of the club where they play, and not to solicit offers from third parties. For each day the Brazilian fails to serve his sentence, he must pay 250,000 euros up to a maximum of 4.5 million.
The step you took Nike now it is to bring the award of Amsterdam in Spain to be recognized by Spanish justice.
Source: La Verdad
I am Shawn Partain, a journalist and content creator working for the Today Times Live. I specialize in sports journalism, writing articles that cover major sporting events and news stories. With a passion for storytelling and an eye for detail, I strive to be accurate and insightful in my work.
