April 19 – Europe’s biggest insurer Allianz is reportedly in talks to buy the naming rights for a new stadium in Sao Paulo.
According to Reuters, Allianz is in negotiation with Grupo WTorre, the construction firm building the new venue, which will be the new home of Palmeiras as well as hosting concerts and other events. Talks are understood to be at an “advanced stage”.
According to local media, Allianz is offering around R$300 million (£98 million) for naming rights for the next 20 years.
The long-delayed new stadium, currently known as Arena Palestra Itália saw the tragic death of 34 year old construction worker Carlos de Jesus last week, as a concrete pillar collapsed, and work has been at a standstill since then.
Allianz already owns the naming rights for stadiums in Germany, Australia, England and France.
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