Marketing and Sponsorship

Without A Sponsor, Brasileiro Club Palmeiras Ends Its Professional Basketball Team

7.2.2015

Brasileiro club Palmeiras "announced the end of its professional basketball team" because it could not find a new sponsor for next season, according to LANCEPRESS. Meltex, which manages the network of the club's stores, paid around R$2.5M per season as a "partner of the basketball team." After the '13-14 season, Meltex "decided not to renew its sponsorship." During President Paulo Nobre's term, the club has "ended the activities of two professional Olympic sports teams in order to save money." Basketball "survived only because of its sponsor." Without the funds, Palmeiras "would not take on the sport's expenses." Through a statement on its official website, Palmeiras "requested to leave" the São Paulo Basketball Federation (FPB) and the Brazilian National Basketball League (LNB). However, the U12, U13, U14, U15, U16, U17 and U19 divisions "will remain active at Palmeiras" (LANCEPRESS, 6/30).

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