Pele is playing backup for a federal oil giant planning an offering next week on the New York Stock Exchange.
The soccer king was introduced Wednesday as Petrobras' "international ambassador." He'll participate in advertising campaigns and do other promotional work for the company. The amount of his two-year contract was not disclosed.
"I am an example of a successful Brazil, and Petrobras is a success, too," Pele said.
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The announcement came a day after Brazil's government announced it would fine Petrobras $53 million for a recent spill in southern Parana state.