Texan oil company Caltex has signed a four-year naming rights deal with Australian soccer's governing body, the Football Federation Australia (FFA), reports,
The Australian national team will henceforth be known as the Caltex Socceroos for the next four years.
The new partnership will see Caltex, Australia's leading fuel supplier, not only sponsor the Socceroos but also create a broader partnership with the women's national team – the Matildas – and invest in youth development.
Australian newspaper the Sydney Morning Herald reported that a deal was struck for a reported AU$12 million (US$8.9 million) until 2020, a figure that is believed to be much less than the governing body had been originally wanted to garner but still representing a much-needed financial gain.
"We are extremely thrilled that Caltex Australia has joined as naming rights partner of the Socceroos for the next four years," said FFA chief executive David Gallop. "This partnership comes at a time when the Caltex Socceroos are entering an incredibly exciting period as we build towards the 2018 World Cup."
The partnership will help ensure the Caltex Socceroos are financially prepared for the 2017 Fifa Confederations Cup and the 2018 Fifa World Cup.