Brazlian soccer giants Corinthians have announced betting platform Esportes da Sorte as their new main shirt sponsor for the next three years.
The agreement, which debuted on July 21 during Corinthians' match against Bahia, is reportedly worth R$309 million ($54.7 million).
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The partnership also includes brand exposure with the Brazilian Serie A club's women's, futsal, and basketball teams.
Corinthians was forced to look for a new shirt sponsor after sports betting company VaideBet terminated its record three-year shirt deal with the club after just five months.
The tie-up, agreed in January 2024, was set to be worth a total of R$370 million over three years, or just over R$120 million per year, making it the biggest sponsorship deal in Brazilian soccer history at the time.
The partnership, however, was ended by VaideBet after Corinthians became embroiled in a police investigation surrounding the deal.
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By GlobalDataThe tie-up first came under investigation at the end of May, with Corinthians alleged to have moved money paid to them by VaideBet through shell corporations for use as payments to Rede Social Media Design, the agency that reportedly helped to broker the initial deal.
With the onset of the police investigation, VaideBet activated a clause it had held in the sponsorship contract to exit the deal immediately.
The club had been playing without a main sponsor for over a month.
