Betano To Continue as Sponsorship of Brazil’s Fluminense Soccer Club

By | July 28, 2022

Sports betting sponsorships continue to be prevalent in Brazil, despite the lack of progress on betting legalization. Soccer club Fluminense is happy with its partnerships and is going to stick with sports betting and iGaming operator Betano for a few more years.

Frederico Chaves Guedes
Frederico Chaves Guedes, a former striker for the Fluminense soccer club in Brazil, showing off Betano as the club’s new sponsor in 2018. The club is renewing the partnership as it looks to receive an injection of funds. (Image: Fluminense)

Fluminense has agreed to renew the contract with the Kaizen Gaming-owned Betano, which will continue as the club’s master sponsor. The extension will take the partnership through the end of 2025, whereas the previous contract was valid until 2023.

The first contract gave the club about R$15 million (US$2.88 million) in total for the two years from June 2021 to June 2023. The renewal will alter the financial commitment, but Fluminense didn’t provide the new details.

Renewal Born From Urgency

As is the case with most sponsorships, Betano hopes to receive a significant amount of brand recognition in return for its investment. In addition to appearing on the shirts, the company will continue to have a place in all of the club’s physical and digital advertising channels.

Before Betano, Fluminense, which competes in Brazil’s first-tier league Campeonato Brasileiro Série A, went three years without a front-of-shirt sponsor. The last brand to occupy the space was Valle Express, which was only there from January to August 2018. However, the club severed its partnership because the financial services company quit making payments.

Fluminense also suffered from default problems with another sponsor, Viton 44. The goal of the board at the time was to seek something around R$10 million to R$12 million (US$1.9 million to $2.3 million). At the time, the club was desperate for the funds to cover its players’ salaries.

This renewal may be important for Fluminense for similar reasons. The club, once again, has not cleared its payroll, owing for May. This would potentially explain why the two sides agreed to extend the partnership so far in advance of the original expiration date.

In the original agreement, Betano, which also sponsors Clube Atletico Mineiro, displaced betting operator Betmotion, as well. The company appeared as a secondary sponsor, but had to go since, for contractual reasons, both sponsorships could not coexist.

Despite those claims, Betmotion asserted that it made the unilateral decision to withdraw its sponsorship. Moreover, it added that its exit had nothing to do with the new arrangement.

Solidifying Its Global Footprint

The future of the betting landscape in Brazil may force the partnership to change course. Other countries, such as Chile, without legal sports betting are working to ban sports betting ads and sponsorships. A similar situation may arise in Brazil if it doesn’t legalize the activity.

However, Betano is finding success elsewhere at the same time. It recently entered the Czech market during the first half of 2022. It is banking on Kaizen’s portfolio, which includes Germany, Portugal, Romania and Bulgaria in Europe. In addition, it had its start in Greece and Cyprus under the local name Stoiximan.

Kaizen, and as a result, Betano, has a number of key gaming partnerships. For example, this past May, it expanded its ongoing relationship with Inspired Entertainment to include virtual events for Betano. That same month, Betano sealed a deal to convert the country’s Romanian Cup soccer competition to the Betano Romanian Cup.

The post Betano To Continue as Sponsorship of Brazil’s Fluminense Soccer Club appeared first on Casino.org.

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