Nubank's digital banking platform secured naming rights to the São Paulo club's arena, with the new name chosen by nearly 500,000 voters in a public poll.
12:44 PM
Nubank announced Monday that Palmeiras' arena will be renamed Nubank Parque following a public vote conducted by the digital banking platform.
The new name was selected by 47.5 percent of nearly 500,000 voters who participated in an open poll launched by the bank in early May. The competing options, Nubank Arena and Parque Nubank, received 29.8 percent and 22.7 percent of votes respectively.
Nubank acquired the naming rights to the stadium in early April under a contract with WTorre, the arena's management company, for an annual payment of 50 million Brazilian reais. While Palmeiras did not participate in the sale of naming rights, the club is entitled to receive 15 percent of revenue generated by WTorre from the venue, amounting to approximately 7.5 million reais under the current agreement.
Visual transformation of the arena to reflect the Nubank Parque branding is scheduled for late July, when new colors and the bank's logo will also be unveiled. The rebranding will include the inauguration of the Nubank Ultravioleta Lounge, an exclusive space offering privileged views of the arena, and the Nubank Ultravioleta Gate, which will provide access to the stadium's boxes with a new design.
The bank plans to introduce initiatives, activations, and benefits tailored to different customer profiles among Nu clients. The official start date for the naming change will be announced at a later time.
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