BTG bank advances talks, close to taking over Palmeiras stadium | OneFootball

Palmeiras and WTorre signed a contract for the operation of Nubank Parque, which was built on the site of Palestra Itália, for 30 years — until 2044. The agreement provides for revenue transfers to Verdão from events, stores, parking, among others, increasing every five years.

After this period, Verdão will have full control over the operation and all revenue generated by the venue.

Change in the operation of Palmeiras’ stadium

NOSSO PALESTRA has learned that BTG Pactual Bank is in advanced talks to take over the operation of the contract, still this year, for Verdão’s stadium until the end of 2044. There are still some pending issues regarding whether WTorre will have a reduced role or no role at all in this new agreement. Other details are being kept confidential by the parties.

In 2024, Enforce, the credit management company of the BTG group, bought the debt WTorre had with Banco do Brasil related to the construction of Allianz Parque, valued at around R$ 650 million. The bank was already considering the possibility of taking over the management of Palmeiras’ arena.

Recently, BTG Pactual took part in the approval of the deal for Nubank to purchase the stadium’s naming rights.

Contacted by the report, WTorre and BTG Pactual Bank did not wish to comment on the matter.

Palmeiras’ share of the revenue

Palmeiras has a progressive share in Nubank Parque’s revenue from event rentals, stores, parking, and snack bars.

Palmeiras’ share of revenue from naming rights, seats, and luxury boxes:

This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.