Santander Reduces Sponsorship, But Continues Partnership With Libertadores
Reports that Spanish bank Santander was ending its sponsorship with CONMEBOL are not completely accurate, according to Mauro Zafalon of MAQUINADOESPORTE.com.br. The company will continue to sponsor the Copa Libertadores but "not as the title sponsor." The company released the following statement, "Santander is informing that it will continue sponsoring the Copa Libertadores, only stopping its relationship as naming-rights partner of the competition. The bank believes that the partnership with CONMEBOL continues to be strong, as the institution is also a partner of the Recopa, Copa Sul-Americana and Copa América. Santander's strategy is to consolidate its image as the bank of Latin American football." The support of football in Latin America "is important for the Spanish bank," as its main competitors are also associated with sporting events. Itaú is a sponsor of the 2014 FIFA World Cup and Bradesco a partner of the 2016 Rio Games (MAQUINADOESPORTE.com.br, 10/29).