The contract between Flamengo and Pixbet had already been discussed for two months, considering that the current one expires in December of this year. The new agreement practically doubles the value of sponsorship for Rubro-Negro.
The amount will be paid in six installments, the first being R$20 million (US$ 3.85m), which will fall into Flamengo's coffers in October. Next year, two payments of R$14 million (US$ 2.7m), and in 2025, the remaining three in the same amount.
The increase in the value of the contract even involves the possibility of the Pixbet logo leaving the shoulder blade and occupying the master space, currently with Banco BRB, if the contract with the bank is not renewed. If this happens, the value will jump from R$90 million to R$170 million (US$ 33m).
The new contract contains clauses that require Pixbet to apply for a license with the federal government as soon as Bill 3626/2023, which regulates sports betting in Brazil, is approved. If Pixbet does not comply with the legislation, Flamengo will be able to terminate the contract unilaterally without paying a fine.
Source: GMB
