Nubank gets naming rights, fans can pick Palmeiras stadium name | OneFootball

After announcing the termination of its partnership with Allianz, WTorre reached an agreement with Nubank as the new holder of the naming rights for Palmeiras’ stadium. The digital bank will replace the insurer, which had named the arena since its inauguration in November 2014.

Fans will be able to choose the new name

With the change, the Palmeiras stadium still does not have a defined name. The fans will take part in the choice and will be able to vote among the following options: Nubank Parque, Nubank Arena, and Parque Nubank.

The negotiations were led by WTorre, the company that manages the stadium. The digital bank will pay around 10 million dollars (nearly R$51 million at the current exchange rate) per season to take over the arena’s naming rights.

End of the “Allianz era”

To complete the change of the green-and-white arena’s name and announce the new sponsor, WTorre terminated its contract with Allianz, which was valid until 2034.

Both WTorre and Palmeiras understood that the previous agreement, signed with Allianz back in 2014, was outdated. Therefore, the club views a new partnership favorably, with values properly updated.

The figures involved in the new agreement, in fact, would be higher than those paid by Allianz, the current holder of the stadium’s naming rights, which paid around 25 million per year.

Verdão received 20% of the amounts Allianz paid WTorre for the stadium’s naming rights. This percentage will not change in the new contract with Nubank.

Palmeiras’ upcoming matches

Corinthians vs. Palmeiras (11th round of the Brasileirão) Date and time: 04/12 (Sunday), at 6:30 p.m. (Brasília time) Location: Neo Química Arena, in São Paulo (SP)

Palmeiras vs. Sporting Cristal-PER (second round of the Copa Libertadores) Date and time: 04/16 (Thursday), at 7 p.m. (Brasília time) Location: Allianz Parque, in São Paulo (SP)

This article was translated into English by Artificial Intelligence. You can read the original version in 🇧🇷 here.