Betano and Superbet emerged as potential suitors to replace PixBet as Flamengo’s master sponsor.
Flamengo, a Brazilian football giant, has announced the early termination of its sponsorship deal with PixBet. As a result, their Flabet sportsbook joint venture is closing.
Even though renewal was possible until 2027, the club planned to end the agreement in December. Since 2022, Flamengo has displayed the Pixbet brand on its shirt.
The master sponsorship, worth an estimated BRL470 million ($87.1 million), marked the largest club sponsorship in Brazilian football history.
Yet, Flamengo announced recently that it had terminated its deal with the online operator. This follows reports of late payments from Pixbet.
The club announced plans to establish a Flabet brand in January 2024. The operator would manage it after Pixbet became the club’s master sponsor.
Nonetheless, Flamengo is rumored to be negotiating with other betting companies to take over the master sponsorship. As a result, the Flabet brand will now close.
The club said in a Wednesday note on its website that Clube de Regatas do Flamengo announces that, after four years of successful partnership, it has mutually and amicably terminated its sponsorship agreement with Pixbet.
It added that the club thanks Pixbet for the partnership and wishes it success.
Pixbet said on X that throughout this period, they shared moments that went beyond the pitch, strengthening not only the Pixbet brand and Flamengo, but also uniting hearts and amplifying emotions among millions of fans.
The company added that the bonds built over these four years remain alive and strong. And, as with any great story worth respecting, they believe their paths may cross again soon. Pixbet also thanks Flamengo.
The two companies cutting ties could mean Pixbet is experiencing financial difficulties. Challenges have spoiled the operator’s entry into Brazil’s regulated online market.
