The Banco BTG Pactual (BTG) has completed the process to take over the management of the Nubank Parque in São Paulo, Brazil, thus becoming the majority partner in the arena’s operation.
Set Direction
‘ONEFOOTBALL’ stated that the major Brazilian engineering and real estate development conglomerate WTorre retains a stake and will be consulted but the BTG will set the direction.
The BTG Pactual is a global financial services group headquartered in São Paulo, Brazil. Founded in Rio de Janeiro in 1983 it has regional bank operations in 13 major financial centers and operations across the Americas, Europe, the Middle East, and Asia.
The Nubank Parque, also known as the Arena Palmeiras or as Arena Palestra Itália and formerly known officially as the Allianz Parque from 2014 to May 2026 due to a naming rights agreement, is a football stadium in Água Branca, São Paulo, Brazil, and is the home of the Brazilian professional football club SE Palmeiras. The stadium also serves as a multipurpose arena and was built to receive concerts and other events besides the football matches. The stadium has a capacity of 43,713 spectators for football and 55,000 for concerts.
The SE Palmeiras is a Brazilian professional football club based in the city of São Paulo (Brazil). Palmeiras is one of the most popular clubs in Brazil with around 15 million fans. The football team plays in the Campeonato Paulista, the State of São Paulo’s premier State league, as well as in the Brasileirão Série A, the top tier of the Brazilian football league system. The Nubank Parque serves as their home ground.
The WTorre is a major Brazilian engineering, real estate development and construction conglomerate based in São Paulo (Brazil). Founded in 1981 by Walter Torre Junior the group has grown into one of the country’s leading infrastructure and corporate property developers.
Surface-rights Deed
‘ONEFOOTBALL’ further stated that for the SE Palmeiras there is no immediate change. All terms in the surface-rights deed for commercial exploitation, valid until 2044, remain in place, including the revenue shares and escalation triggers.
Direct Contact
The SE Palmeiras has not yet had direct contact with the BTG and the expectation is that the current WTorre-Palmeiras operations team stays on.
Marcelo Frazão, Head Honcho of the Nubank Parque, remains in post for now.
Existing Contracts
The existing contracts for the scheduled concerts and the promoters remain valid. The BTG will now manage the calendar and any adjustments for the new events. The BTG-WTorre agreement is before CADE (Conselho Administrativo de Defesa Econômica – Brazil’s national competition regulator and antitrust enforcement agency).
BTG Operation
The BTG’s involvement began in 2024 when it acquired the WTorre debts with Banco do Brasil (a major Government-controlled financial services company and the oldest bank in Brazil) including financing linked to the stadium’s construction. Talks over BTG assuming the operation has now been formalized.
Previous Agreement
The Nubank Parque also changed name this year after 12 years with the German multinational financial services and insurance company Allianz exiting and Nubank entering, a deal speculated to be worth 10 million dollars per year, about R$ 51.4 million, nearly double the previous agreement.
Palmeiras Share
The SE Palmeiras’ share from the arena rental for the events and the areas such as shops, food outlets and parking is 20 percent in years one to five, 25 percent in years five to 10, 30 percent in years 10 to 15, 35 percent in years 15 to 20, 40 percent in years 20 to 25, and 45 percent in years 25 to 30. The income from seat and suite licenses, plus naming rights with Allianz, follows five percent, 10 percent, 15 percent, 20 percent, 25 percent, and 30 percent across the same intervals.
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