Utility Company Eletrobras Rescinds Title Sponsorship Of Brasileiro Club Vasco
Brasileiro club Vasco's search for a title sponsor for '13 "now has an explanation," according to LANCE NET. Power utility company Eletrobras, which has been the title sponsor of the club for almost four years, has "rescinded its contract." Eletrobras' decision was motivated by "political questions." Vasco broke contract rules. The club "could also be fined." The contract was rescinded on Feb. 7, but Vasco management still claims it is unaware of the news. Vasco Marketing VP Eduardo Machado said, "I have not been told of anything for now. It is a little bit strange, they paid their last installment." Eletrobras first partnered with the club in July '09 and paid R$16M ($8.1M) annually to be the team's title sponsor (LANCE NET, 2/21).