CONMEBOL, Bridgestone To Reveal $80M Naming Rights Deal For Copa Libertadores
Tire manufacturer Bridgestone will be named the new title sponsor of the Copa Libertadores (South America's most prestigious football club competition) in a $80M deal in the coming weeks, according to Erich Beting of MAQUINADOESPORTE.com.br. The company is "in the final stages" of finalizing a deal with the South American Football Confederation (CONMEBOL) to replace Santander bank as the title sponsor of the Libertadores. The Japanese company will pay $80M over four years. The announcement of the new contract will be made in December, during the draw for the Libertadores. The agreement "solves a problem for CONMEBOL, but also creates another." With Bridgestone's move to the Libertadores, CONMEBOL will have to negotiate a naming rights deal for the Copa Sudamericana (South America's second-most prestigious football club competition), which had been sponsored by Bridgestone since '11. The acquisition of the Libertadores naming-rights marks the company's "largest investment" to date in South American football. The sponsorship deal is also "a way for the company to compete with rival Continental," which is a sponsor of the 2014 World Cup (MAQUINADOESPORTE.com.br, 11/12).