Corinthians sponsor is dissatisfied and may terminate contract

Corinthians sponsor is dissatisfied and may terminate contract

The bookmaker ‘VadeBet’, main sponsor of Corinthians with a contract for another three years, threatens to terminate the relationship with Timão

At the beginning of this year, the Corinthians announced ‘VaideBet’, a bookmaker, as its master sponsor for the next three years. However, the company sent a notification to the São Paulo club and expressed dissatisfaction with the recent news related to the partnership, even threatening to terminate the contract.

The company had already expressed discomfort with the first months of partnership with Corinthians in a meeting held on May 8th. Thus, the following day, Timão issued a note defending the legitimacy and suitability of the signed contract. However, last Monday, the 20th, ‘VaideBet’ again showed dissatisfaction, this time via email.

In the statement sent to the board, the bookmaker stated that it sees that its image is being harmed by the partnership, according to ‘GE’. And, in this sense, it has already been warned that if this scenario continues, the company will study possible ways to end the contract between the two parties.

The agreement signed at the beginning of this year foresees a value of R$370 million involved in the sponsorship agreement, for a three-year term. According to the signed contract, the party wishing to terminate must pay 10% of the total remaining amount. Currently, this fine is valued at R$30 million.

Corinthians players at the presentation of ‘VaideBet’ as a sponsor (Credit: Jozzu / Agência Corinthians)

In general, the negative repercussions on the partnership between the company and Corinthians is a factor that could end the relationship between the two parties. The contract is generating a series of questions and is even undergoing an investigation by the club’s Deliberative Council.

Source: sportbuzz

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