WTorre signed a new agreement with Nubank for the naming rights of Palmeiras’ stadium, with the contract being announced on March 10, 2023. This partnership follows the early termination of the previous contract signed with Allianz, which had been in effect since 2014 and was scheduled to last 20 years.
The commitment with Allianz involved payments of approximately US$ 5 million per season, an amount equivalent to about R$ 26.36 million at the current exchange rate. However, sources close to the negotiation reported that WTorre and Palmeiras are expected to gain greater financial benefits from the new agreement, although the official amounts have not been publicly disclosed.
Although WTorre conducted the negotiations directly with Nubank, Palmeiras remains informed and aware of the negotiations, even without directly participating in this process. It is important to highlight that, unlike the period when the stadium was called Allianz Parque, the name in the new era will not be defined by popular vote.
The financial market and sector specialists pointed out that the amount previously received from Allianz was outdated, especially given the greater valuation of Palmeiras and the arena, which has been the venue not only for important games but also for large-scale concerts. This evolution justifies the expected increase in the naming rights value for WTorre and its partners.
So far, the official name of the stadium under the contract with Nubank was revealed on the same date as the contract signing, March 10, reinforcing a new phase for the management of rights and commercial exploitation of the arena. The completion of the process depends on the progress of administrative actions between WTorre and Nubank to consolidate the use of the brand in the space.
