Allianz ends Palmeiras arena naming-rights deal after 13 years, Nubank expected next | OneFootball

Allianz Seguros has ended its naming-rights deal for Palmeiras’ arena, closing a partnership that began in 2013. Nubank is expected to be unveiled as the new sponsor in the coming hours.

O Globo reports that the new agreement is worth around 10 million dollars per year, about R$ 51 million, and will run until 2034. The figure marks a significant rise on the previous deal.

The venue, managed by WTorre and known as Allianz Parque, has become one of the country’s leading multi-use arenas during the tie-up.

Talks between WTorre and Nubank accelerated in recent weeks and resulted in an agreement viewed as strategic for both parties.

The end of the Allianz partnership was communicated as amicable, with emphasis on the legacy built over 13 years.

Source: Nosso Palestra