Corinthians Announces Sale of Arena Naming Rights | corinthians

The trading values ​​were kept confidential, but the report of the give found that it will be R $ 300 million for the right to name the Timão stadium. An estimated profit of R $ 15 million per year, as columnist Rodrigo Capelo said..

With an extensive list of products and other brands in its catalog, Hypera chose the name of the stadium Neo Chemical Arena. It is with this “baptism” that Timão’s house will dawn on the club’s 110th anniversary, this Tuesday.

The announcement was made by President Andrés Sánchez and Breno Oliveira, CEO of Hypera. A press conference is scheduled for Tuesday morning and should give more details about the agreement, with the presence of Andrés and representatives of the administrative, legal and marketing departments.

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Around midnight, the new Arena logo was revealed, and a battery of fireworks celebrated the association and also Timão’s 110 years.

Neo Química was the main sponsor of Corinthians in 2010 and 2011, when Ronaldo wore the club’s jersey.

The Arena was founded in 2014 to be used in the World Cup. Since 2010, still in the stadium project, the club is looking for a company to name the construction. They were years of waiting.

During this period, the president of Corinthians, Andrés Sánchez, led numerous attempts to close the sale of the Arena name, always treating the issue with great optimism, but, until then, without success. The settlement is considered a great achievement. Remember stories of naming rights saga by clicking here.

In recent days, the top hat used his Twitter account to move the loyal crowd with the impending announcement, treating the subject with humor and a touch of irony.

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Corinthians took advantage of the club’s 110th anniversary to make the gift to the faithful fans. On Monday night, actor Dan Stulbach and former goalkeeper Ronaldo Giovanelli hosted the event, which also featured some guest appearances like that of singer Negra Li. Andrés and soccer director Duílio Monteiro Alves were interviewed and discussed. the Arena and also football related matters. Then the name was announced with the sound of fireworks throughout the stadium.

Headquartered in Itaim Bibi, a luxury neighborhood in São Paulo, Hypera Pharma has the highest net income in the country in the pharmaceutical segment, with revenues expected in 2020 of around R $ 4 billion. The expected net profit for the same period is R $ 1.3 billion.

It is also the largest pharmaceutical industry in Brazil.

The company was founded in 2000 by businessman João Alves de Queiroz Filho. Over the years, it acquired brands known to the public, such as Assolan steel mesh and the Neo Química network of laboratories. To finance the company’s acquisitions and projects, João received investments from private partners, such as Capital International and Maiorem.

Furthermore, Hypermarcas (name used until December 2017) went public on the São Paulo Stock Exchange in April 2008.

But what are naming rights after all?

In a free translation from English, it is the right to name something. In this case, the Corinthians arena. Very popular in the United States, the sale of names has become common in Brazil in recent years. In addition to football stadiums, such as the one in Palmeiras, companies pay millions of dollars to name concert halls, theaters, events and parties.

Will he give to pay Arena?

The sale will help Corinthians pay the debt for the construction of its stadium, but it will not pay off all the financing for the work. Currently, Caixa Econômica Federal charges R $ 536 million of Timão. The club also has a debt with Odebrecht, a company that is in the process of judicial reorganization. However, according to President Andrés Sánchez, there is already an agreement for this debt to be zero.

The naming rights soap opera is at least ten years old and included trips by President Andrés Sánchez to the United Arab Emirates, a controversial middleman and frustrated parties.

Just when it began to design the plan to make the Arena viable, Corinthians believed it could pay for the job almost entirely from the sale of the naming rights. In 2010, when the project was announced, Timão estimated that the work would cost up to R $ 350 million. As is known, the total amount was much higher, close to R $ 985 million.

Even away from the club, he remained at the forefront of Arena negotiations. So much so that in 2013 he traveled to the United Arab Emirates to speak with potential buyers of naming rights. At the time, it was speculated that Andrés was negotiating with four companies, with Etihad and Emirates being the favorite airlines.

In 2014, the top hat again announced a trip to the region, but failed to close the sale.

President Alvinegro was not the only Corinthians representative to travel to the Middle East in search of a buyer for the nomination rights. Between 2014 and 2016, Timão paid at least R $ 200 thousand to businessman Francesco Arruda to mediate negotiations in the region.

TO giveArruda stated that he had received R $ 700 thousand from Corinthians in reimbursements for travel and accommodation expenses in Dubai, Abu Dhabi and Doha. At the time the report was published, the club confirmed that it had made payments to him, but denied this amount.

Then, in another context, Corinthians worked to hold an event to celebrate the sale of “naming rights” in the debut of Brasileirão 2016, which did not happen either.

At the time, the club was negotiating with an investment fund that could take over the management of the Fiel Torcedor program and other properties linked to the Arena, such as the tour and cabins. In the business model, the buyer would not change the name of the stadium.