O Corinthians, once again, lost a sponsor. This time in a shameful way, as the former sponsor (bookmaker Vaidebet) canceled the contract using the protection clause against fraud and image damage, that is, the former sponsor officially stated that the image association with Corinthians was damaging the brand’s image.
This Friday morning, the bookmaker VaideBet officially ended its partnership with the black and white club, amidst a sea of controversies and accusations of fraud.
In an official note, the VaideBet announced that it will no longer sponsor Timão. The statement came shortly after confirmation that the black and white board had sent a letter responding to accusations that an “orange” company received part of the money allocated to the business intermediary, Rede Social Media Design. It seems that the Corinthian soap opera has gained another chapter.
“The brand believes that the partnership cannot be maintained while any suspicion regarding conduct that does not comply with ethics and legal precepts hovers over the agreement. Just doubt, in the brand’s ethical view, is enough to determine the termination – which was exercised by VaideBet, raising clauses in the contract that protect the brand’s rights in this decision”, says an excerpt from the statement. In other words, even the shadow of a flea behind the ear was reason enough for VaideBet to bail.
The original agreement, signed for R$360 million over three seasons, paid the club R$10 million per month. But before the end of the partnership, President Augusto Melo’s management was already in crisis, with legal director Yun Ki Lee and marketing superintendent Sérgio Moura leading internal disputes worthy of a nine o’clock soap opera.
In the statement, VaideBet did not make it clear whether the termination triggered any clause or whether a fine would be paid. Initially, the company would have to pay around R$30 million, or 10% of the amount due by the end of the contract. It seems that Corinthians has not only lost a sponsor, but will also need a good lawyer.
See the full note
“VaideBet informs that this Friday (7) it terminated the sponsorship contract with Sport Club Corinthians Paulista. Since the beginning of April, the brand has been monitoring and requesting clarification on the suspicions raised, having already held meetings, formal communications and extrajudicial notification. Given the explanations presented without any resolution, VaideBet regrettably finds itself forced to take such an action.
The brand believes that the partnership cannot be maintained while any suspicion regarding conduct that does not comply with ethics and legal precepts hovers over the agreement. Just doubt, in the brand’s ethical view, is enough to determine the termination – which was exercised by VaideBet, raising clauses in the contract that protect the brand’s rights in this decision.
VaideBet regrets the end of a partnership that should have lasted at least three years and thanks, for their affection and respect, the immense and passionate Corinthians fans, who daily support the history and values of the institution.”
Remember the case
The agreement had Rede Social Media Design LTDA as an intermediary, receiving an amount of R$25 million. In May, Corinthians had already deposited part of this amount, R$1.4 million in two remittances. These payments were made without the knowledge of financial director Rozallah Santoro, who was traveling. Marcelo Mariano, administrative director, was responsible for prioritizing transactions amid the club’s other financial problems.
According to columnist Juca Kfouri, part of the amount already deposited was transferred to another company, Neoway Soluções Integradas em Serviços LTDA. The problem? Neoway’s partner, Edna Oliveira dos Santos, didn’t even know she owned the company. It seems that, at Corinthians, even the sponsor plays against it.
Source: Atrevida
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
