WTorre and BTG near deal to run Palmeiras stadium until 2044 after legal dispute eases | OneFootball

BTG Pactual is in advanced talks with WTorre to assume management of Palmeiras’ Allianz Parque until the end of 2044, with the agreement moving towards signature after steps to end a long-running legal dispute.

According to Nosso Palestra, the parties filed on Tuesday, the 1st, to suspend court proceedings as settlement talks were at an advanced stage, and it had obtained a court document from WTorre’s lawsuit against BTG Pactual and others over the acquisition of about R$ 650 million in debt linked to the stadium’s construction.

The report adds that only bureaucratic steps remain and that formalisation will take place in the coming weeks.

In 2024, Enforce, BTG’s credit management arm, bought the debt from Banco do Brasil, incurred by WTorre to build Allianz Parque. The bank had already been weighing a move to take over the arena’s operation.

BTG Pactual also took part recently in approving Nubank’s purchase of the stadium’s naming rights. The intended plan is for joint management with WTorre for about two years, then BTG assumes full control, with WTorre retaining around 10% to 20%.

Source: Nosso Palestra

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