The deal gives Nike its first official Olympic Organising Committee sponsorship since the Sydney 2000 Games, strengthening its brand in a country that will be the focus of the sporting world at both the 2014 World Cup and the Olympics and Paralympics two years later.

Under the terms of the four-year deal, reported by SportBusiness Journal, Nike will receive marketing and licensing rights to the Rio Games and will fit out all Brazilian national teams – except volleyball, which is sponsored by Brazilian sportswear brand Olympikus – both for Rio and this summer's London Games.

How much the deal is worth has not been divulged but sources valued it as somewhere between $25 million (£16 million/€19 million) and $40 million (£25 million/€30 million).

Rio organisers opted to take Nike's tier-three sponsorship offer over a tier-one proposal from Olympikus, it is claimed.

In doing so, they are expected to become the first Organising Committee to split team and volunteer clothing deals into separate categories.

The Rio 2016 partnership does not include rights to volunteer uniforms, which will be put out for a separate tender, with the search likely to get underway later this year.

Adidas, which paid $127 million (£79 million/€95 million) for London 2012, was also the official sportswear partner of the Athens 2004 and Beijing 2008 Games but did not compete for Rio.

As an official FIFA partner, the group will already have a dominant position in Brazil during the World Cup two years earlier.

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