Sao Paulochampion of the Copa do Brasil and the Copa Libertadores, announced this Tuesday an agreement by which it sold for three years the right to use the name of its stadium, Morumbí, to the multinational Mondeleza giant chocolate and candy producer with operations in 150 countries.
“It is with great pride that we announce the acquisition of the naming rights of the Morumbí stadium, one of the largest entertainment venues in (the city of) Sao Paulo and which will now be called MorumBIS,” The São Paulo club reported in a message published on its social networks.
Sao Paulo clarified that the agreement only adds one letter to the name of a “historic stadium” to allow the combination of the words Morumbi with Bis, which is one of the main brands of Mondelez chocolate covered cookies in Brazil.
Although neither Sao Paulo nor Mondelez (the former Kraft Foods) reported the value of the contract that will change the name of the stadium between January 2024 and December 2026, it will be about 25 million reais (about US$5.2 million) per year. , for a total of 75 million reais (about US$ 15.6 million).
The value exceeds that achieved by the clubs Palmeiras and Corinthians, Sao Paulo’s main rivals, with the sale of the name of their stadiums to the insurance company Allianz and the pharmaceutical company Hypera Pharma respectively.
The rivals’ contracts, however, reach 300 million reais (about US$62.5 million) over a 20-year term.
Mondelez reported in a statement that, in addition to the matches of one of Brazil’s biggest football clubs, MorumBIS will continue to host major shows and events.
The company highlighted the potential as a commercial promoter of the Brazilian team with the greatest number of international titles, including three World Cups and three Libertadores titles, and with nearly 20 million fans.
“Sao Paulo is a strong and global brand, as well as our new partner… The union of these two powers is a perfect marriage,” stated Sao Paulo’s executive director of marketing, Eduardo Toni, quoted in the multinational’s statement.
Source: Gestion
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