Brazilian football club Corinthians has had its sponsorship agreement with bookmaker MarjoSports end following issues created by the global health pandemic.
The conclusion of the deal comes after both entities reached an agreement to end the partnership effective immediately. Prior to the official cancellation, the partnership was temporarily suspended in early April.
In an official statement, the bookmaker said that the pandemic and the interruption of live sports events were some of the factors behind the decision.
According to iGaming Brazil, a MarjoSports spokesperson stated: “In this long road of hard work and dedication, and especially during these times where we live one of the greatest challenges in history, it’s natural that cycles begin and end, and that we tend to look for new horizons.
“Today, a cycle has ended, and we announce the end of the sponsorship with Corinthians, our partner since April 2019. In a joint agreement, the Timão presidency and the MarjoSports Board made this decision to be able to be better prepared to face the pandemic, which has suspended championships across the planet, and consequently brought challenges to everyone involved in sports.”
The bookmaker’s logo was stamped on the sleeve of the team’s kit, as well as on the background of press conferences, static posters in the training centre and on social media.
Corinthians’ 2020 season has yet to get underway after the Brazilian Série A, which was scheduled to commence in May, was suspended due to the global health pandemic.
Unlike the Premier League and La Liga which has announced a return to competitive football, Brazil’s top division has yet to announce when it will resume its operations.
Insider Insight: The loss of sponsorships will always cause an unwelcome financial hit, especially as clubs are already suffering the consequences of having no competitive football. Nevertheless, the likelihood is that Corinthians should hopefully find a new sponsor before the 2020 season commences.