Nubank in talks to take Allianz Parque naming rights in long-term deal | OneFootball

Talks have advanced over a potential change of naming rights at Palmeiras’ stadium, long known as Allianz Parque, with Nubank in discussions to take over.

O Globo reports that the offer is 10 million dollars per year, around R$ 51 million, on a contract running to 2044, when the WTorre and Palmeiras partnership ends.

The bank has signalled its interest and is holding frequent talks with WTorre, the stadium’s builder and operator. Contacted for comment, the company did not confirm the negotiations.

The figures would far exceed the Allianz agreement signed 12 years ago, a 20-year deal to 2034 worth R$ 300 million in total, or R$ 15 million per season, indexed to inflation annually. The current amount is not confirmed by the parties, but is above R$ 25 million, and the arrangement is now considered outdated.

Any change would require agreement with Allianz to end the existing contract, which has eight years left. Palmeiras are not party to these talks, as the club does not handle the stadium’s advertising deals.

Even so, Palmeiras receive 15% of naming-rights revenue under their accord with WTorre, so their income would rise if discussions with Nubank are concluded.

Source: Globo.com