Esportes da Sorte seeks to end Corinthians sponsorship agreement
Deals & M&A1 min read
Esportes da Sorte has notified Corinthians that it plans to terminate its principal sponsorship, reportedly arguing Brazil’s betting ban prevents it from meeting its contractual obligations. Corinthians opposes termination and says the agreement should remain suspended until the legal issue is resolved; the parties are discussing the matter through their lawyers. The agreement provides for R$150m annually, potentially rising to R$200m against performance targets.
Esportes da Sorte has reportedly told Corinthians that it plans to end its principal sponsorship of the club. Corinthians opposes termination and argues that the contract should stay suspended until the legal issue tied to Provisional Measure No. 1394/2026 is resolved. Both sides are reportedly discussing the matter through their lawyers.
Under the agreement, the operator pays R$150m a year, which can rise to R$200m a year if performance-based targets are met. The partnership is due to run until December 2029. It was originally signed in 2024 for R$309m over three years.
Under MP No. 1394/2026, fixed-odds betting can no longer be operated, offered, brokered or advertised in the country. Failure to secure approval within a constitutional period of up to 120 days could cost the measure its validity. Esportes da Sorte has stopped running advertising campaigns linked to the club. The club agreed a deal with e-commerce platform Shopee running until the end of 2026. Economist Cesar Grafietti says the betting ban could cut Corinthians' revenue by 23%, from R$879.4 million to R$681.4 million. The Supreme Federal Court, under Justice Luiz Fux, is also examining the issue, with a public hearing slated for November 3 at 10 a.m.