The Brazilian football club, São Paulo FC, signed a naming rights deal with the multinational confectionery brand, Mondelez, and its BIS chocolate entity.
Following the development, the club’s home stadium, Morumbi Stadium will be renamed MorumBIS.
The deal was closed between the two entities at a whopping price of $25 million.
The Sao Paulo contract outperforms the $15 million annual Allianz Parque (Palmeiras) deal, the $15 million annual deal from Corinthians for the Neo Química Arena; and the $13.3 million annual deal from Athletico-PR for the Ligga Arena, which is a 15-year deal for $200 million.
Based in Chicago, Mondelez is a multinational American firm specialising in candy, food holdings, beverages, and snack foods.
Mondelez operates in around 160 countries and brings in about $26.5 billion in revenue annually. The company was founded on December 10, 1923, by Thomas H. McInnerney and Edward E. Rieck.