Allianz In Talks With São Paulo Stadium About Possible Naming-Rights Deal
German insurance company Allianz "is in talks to buy the naming rights to a football stadium under construction in Brazil's largest city São Paulo, in what may become the first major football sponsorship deal in the country hosting the World cup next year," according to Guillermo Parra-Bernal of REUTERS. Allianz said "negotiations with Grupo WTorre, the building company in charge of the construction of the venue, are 'in an advanced stage.'" The stadium, which "is expected to be completed by the end of this year, will host games for eight-time Brazilian title winners Palmeiras." A spokesperson for Allianz in Brazil "declined to comment on the potential size of the deal, saying terms remain under discussion" (REUTERS, 4/18).