On March 10, 2023, WTorre formalized the naming rights agreement with the digital bank Nubank, ending a 13-year partnership with the insurer Allianz. The contract with Allianz, which was in effect from 2014 to 2026, provided for an annual payment of US$ 5 million, an amount equivalent to R$ 26.36 million at the current exchange rate.
Nubank offered a higher amount than what was paid by Allianz, which will result in greater revenue for Palmeiras. Thus, the club will receive a percentage of the amount passed on by the bank to WTorre, with this percentage expected to increase to 15% starting from November 2025. In addition, the financial institution will open a popular vote to choose the new name of the arena, with the options Nubank Parque, Nubank Arena, and Parque Nubank.
The announcement of the agreement was made at Parque Mirante, atop Palmeiras’ stadium, located in São Paulo. Nubank Brazil’s CEO, Lívia Chanes, accompanied by the vice president of marketing, Juliana Roschel, and WTorre manager, Marcelo Frazão, were present at the event. On the other hand, Palmeiras president, Leila Pereira, did not attend the announcement, although she was mentioned by representatives of the companies involved.
The surface contract established between WTorre and Palmeiras determines that the club has the right to negotiate properties related to the arena’s marketing. This indicates that the relationship between the parties remains healthy, according to internal sources from Palmeiras. In this regard, Lívia Chanes made contacts with Leila Pereira and Sílvia Torre, co-founder of WTorre, to schedule meetings after the event.
Both companies state that the stadium will continue to be treated as Palmeiras’ home, ensuring the preservation of the club’s traditional green color. This guarantee also includes Nubank’s commitment to preventing purple, the bank’s main color, from prevailing in the arena’s environment. Thus, the agreement seeks to align the visual identity of Palmeiras’ home with the marketing actions promoted by the new sponsor.
The conclusion of the process still depends on adjustments in the negotiations between WTorre and Palmeiras, as well as on the definition of the final visual identity for the arena. The expectation is that Nubank will finalize the popular vote and the contract details by the second half of 2026, after the scheduled meetings with the club’s management and the representatives of the construction company. In addition to Palmeiras’ internal analysis, the deal will continue under the monitoring of regulatory bodies of the sports segment in Brazil.
