Palmeiras close to Leapmotor deal worth up to R$ 30 million a year | OneFootball

According to Globo.com, paperwork has been submitted to the club's legal department. Palmeiras are close to signing and announcing the club's second-largest sponsorship, with Chinese carmaker Leapmotor poised to take the back of the shirt, vacant since the Fictor split.

The agreement could be worth up to R$ 30 million per year over two years. It will appear on the men's and women's professional kits, and does not include the academy's main sponsor position.

Each season carries R$ 20 million guaranteed, plus up to R$ 10 million in additional investment. Those extras are linked to targets and projects via the Federal Incentive Law.

Leapmotor would replace Fictor, whose contract was terminated on the second of February. The company sought judicial recovery amid difficulties tied to the Banco Master case.

Palmeiras are still owed sums from the former sponsor, including the most recent instalment due before termination and performance-related bonuses.

The club has become a creditor in the recovery process.

Source: Globo.com