Santander Will Not Renew Title Sponsorship Of Copa Libertadores
The Copa Santander Libertadores (South America's equivalent to the Champions League) will change its name in '13 as the bank will not renew its title sponsorship deal for the event with CONMEBOL, according to MAQUINADOESPORTE.com.br. The financial institution's deal with the South American Football Confederation was signed in '07 but is set to expire at the end of the year. In the upcoming years, "direct rivals" of Santander will sponsor mega-events in Brazil; Itaú is a sponsor of the 2014 World Cup and Bradesco is an official sponsor of the 2016 Rio Olympics. With Santander's departure, CONMEBOL has "begun looking for possible partnerships." The organization will announce a new title sponsor at a board meeting on Dec. 20 (MAQUINADOESPORTE.com.br, 10/26).