The agreement with Sportingbet had been in the works since October of last year, considering that the contract with Crefisa and FAM would end at the end of 2024. From now on, with the departure of the companies of president Leila Pereira, Palmeiras wants to reach the mark of R$200 million (US$ 33m) per year in properties of the 'Alviverde' uniform.
The most significant step was taken with the closing of the three-year contract with Sportingbet, licensed by the Secretariat of Prizes and Betting (SPA) of the Ministry of Finance on December 31.
The Entain Group betting house will pay Palmeiras R$100 million (US$ 16.5m) per year until the end of 2027, which could reach R$170 million (US$ 28m) depending on the goals to be met by the club. A clause also allows the extension of the agreement for another year, also depending on the club's performance.
Sportingbet will be officially presented as Palmeiras' master sponsor next Monday (13) at an event at Allianz Parque, when the club will present the new uniform already bearing the betting house's brand.
Source: GMB
