RIO DE JANEIRO, Mar. 3, 2009 (Xinhua News Agency) -- The recent global financial crises has caused yet another Brazilian company on Tuesday to cancel their sponsorship for a Brazilian sports team.

Female volleyball team Brusque of Santa Catarina is the latest victim to run the risk of being dissolved due to lack of funds

The bad news for Brusque is still unofficial because the team is currently in the middle of the Superliga volleyball tournament in hopes of qualifying to this year's finals. However, it is almost certain that this will be the team's last season together.

The first company to announce their departure of sponsorship in the Brazil women's league of volleyball was Banespa. Ulbra soon followed and was later trailed by Bento Goncalvez. On Tuesday Brazil's telecommunications giant, Brasil Telecom (NYSE:BTM) , pulled out.

Brazil Telecom claimed that the sponsorship brought a low return as they did not get enough media attention and consequently the company's name is not visible, leading to a non-profitable project.