Flamengo announces early termination of contract with main sponsor.

Flamengo has announced the early termination of its contract with Pixbet, the club's main sponsor for almost two seasons. The parties negotiated the end of the partnership amicably. The contract was valid until December, with the possibility of renewal until 2027.

The club and the sports betting and online gaming company had initiated the termination of the contract after Flamengo expressed dissatisfaction with the delay in payment of installments by the betting company. PixBet's contract as the main sponsor came into effect in January 2024 and, if renewed until 2027, the projected payment was R$ 125 million per season.

Now, the club is working to secure a new main sponsor as soon as possible. Two betting companies are strong contenders to fill the spot. The first is Superbet and the other is Betano. Both offered a three-year contract worth over R$200 million per season. There is a third betting company with a similar financial offer, but its name has not been revealed.

The board doesn't want to encourage an auction and is handling the negotiations separately. SuperBet's proposal would surpass the contract the company has with São Paulo, which is worth R$ 600 million until 2030, potentially reaching R$ 1 billion with performance-based bonuses. The deal Flamengo wants to close will likely become the largest sponsorship contract in Brazil.

Understand

The company's departure should not involve termination. The contract, signed in 2024, ends at the end of this year and has the possibility of automatic renewal for another two years, which would yield Flamengo an additional R$ 250 million.

Faced with financial difficulties, however, PixBet has already indicated that it will not exercise the clause. The parties are negotiating whether to terminate the contract this month or only in December, when it actually expires.

The departure will also end operations for FlaBet, Flamengo's official betting platform on PixBet. The Rio de Janeiro club would have received an additional R$ 50 million from the partnership had it renewed the contract.

See the note

Clube de Regatas do Flamengo announces that today, after four years of successful partnership, it has mutually and amicably terminated its sponsorship agreement with Pixbet. The partnership also included a licensing agreement for the Flabet brand.

The contract with Pixbet was the largest club sponsorship deal ever made in Brazil. Together we won several championships: Libertadores 2022, Copa do Brasil 2022 and 2024, Campeonato Carioca 2024 and 2025, and Supercopa do Brasil 2025. The Club thanks them for the partnership and wishes Pixbet continued success.