São Paulochampion of Brazilian Cup and of Libertadores Cupannounced Tuesday a deal in which it sold the right to use its stadium name for three years, morumbi, to multinationals Mondelez, a giant producer of chocolates and sweets with operations in 150 countries.
“It is with great pride that we announce the acquisition of the naming rights of the stadium Morumbione of the biggest entertainment spots in (city of) São Paulo and which will now be called MorumBIS“, reported the São Paulo club in a message published on its social networks.
São Paulo clarified that the agreement only adds one letter to the name of a “historic stadium” to allow the combination of words Morumbi together Biswhich is one of the leading brands of chocolate covered cookies from Mondelez in Brazil.
Although neither São Paulo neither Mondelez (the old one Kraft Foods) reported the value of the contract that will change the name of the stadium between January 2024 and December 2026, sources from the multinational said EFE which would be about 25 million reais (about 5.2 million dollars or 4.7 million euros) per year, for a total of 75 million reais (about 15.6 million dollars).
The amount exceeded the reach of the clubs Palmeiras and Corinthiansmain rival of São Pauloincluding selling the name of its stadiums to the insurance company Allianz now the pharmacist Hypera Pharma respectively.
The contracts of the rivals, however, reached 300 million reais (about 62.5 million dollars) for 20 years of validity.
Mondelez reported in a statement that, in addition to the matches of one of the biggest football clubs in Brazil, MorumBIS will continue to host major shows and events.
The company highlighted the potential as a commercial sponsor of the Brazilian team with the most number of international titles, including three World Cups and three Libertadores titles, and with almost 20 million fans.
“Sao Paulo is a strong and global brand, as is our new partner… The combination of these two powers is a perfect marriage,” Sao Paulo’s executive director of marketing, Eduardo Toni, was quoted as saying in the statement by multinational. .
Source: La Verdad
I’m Rose Herman and I work as an author for Today Times Live. My expertise lies in writing about sports, a passion of mine that has been with me since childhood. As part of my job, I provide comprehensive coverage on everything from football to tennis to golf.
