Santos suspend Novibet deal and target one-off sponsorships | OneFootball

Santos have suspended their shirt sponsorship with Novibet after a federal Provisional Measure to ban the operation, offering, intermediation and advertising of online betting and casinos in Brazil.

The club opted for suspension rather than ending the agreement, aiming for an immediate resolution while the matter heads to Congress. According to Globo.com, it wants to avoid losing its main sponsor.

Although the advertising ban takes effect on six October, Santos will not display the brand in the clássico against São Paulo on two October at Morumbis in the Brasileirão.

Santos signed with Novibet in mid-February, for three seasons, a fixed R$ 35 million plus variables. The Malta-based company advanced part of the deal, so a financial rearrangement will be needed. The club cannot deliver the contractual obligations under the prohibition.

With the agreement on hold, Santos is now pursuing fresh income, initially through one-off deals to plug the gap. The club also has kit assets assigned to NR Sports, the Neymar family company, which has been displaying its own brands, including Marca Pelé and the Instituto Projeto Neymar Jr. The concession was granted in exchange for the payment of a transfer ban.

The government announced the suspension on Friday, with finance minister Dario Durigan alongside President Luiz Inácio Lula da Silva. Platforms must refund balances by 23:59 on five October and go offline from six October, with new deposits already blocked.

Source: Globo.com

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