Last Thursday (July 28), Codere became the new main sponsor of Club Atlético River Plate, which plays in Argentina’s Primera División. After the renewal of the commercial agreement between the two companies, the sports betting brand will occupy the front of the shirt until August 2025.
According to the media, the new deal between Codere and River Plate will be for $3.5 million per year, with a total payout of $12.5 million over the next four years. The previous partnership – signed in July 2021 and which had the brand on the sleeves of the shirt – provided for an annual payment of US$ 2 million.
Likewise, the new commercial agreement also includes clauses with the team’s performance in the different tournaments in which it participates. Thus, River Plate will receive US$ 300 thousand if they win the Copa Libertadores, US$ 200 thousand if they win the Club World Cup or the Copa Sudamericana.
Likewise, the Argentine football club will receive US$75,000 if it wins the Argentine Professional League, and US$50,000 if it wins the Copa Argentina or the Supercopa Argentina.
The presentation of the agreement took place on Thursday afternoon at the club’s premises and was attended by authorities from the betting brand and the club. The shirt’s debut with Codere as an official sponsor, according to the brand, will be on August 1.
Codere’s head of sponsorship, Carlos Sabanza, said: “We are very proud to be on the front of Club Atlético River Plate’s shirt and we are convinced that in this new phase we will continue to promote our brand together, as well as provide the Argentine public with the best entertainment”.
“We are aware of the responsibility that we have acquired with our presence in front of a River Plate shirt and, for this reason, we will put all our efforts to continue growing together and achieving our goals”.
“This agreement will continue to be an even more fruitful alliance and that we have made a winning bet by joining our paths”, highlighted the executive.
In turn, Club Atlético River Plate president Jorge Brito said: “Codere is a sponsor we already know and with whom we have traveled a very important path. We are proud that such a prestigious international brand continues to trust River and who has chosen to extend the agreement and become our Main Sponsor. We are very happy with this new opportunity that is generated, so that River and Codere can strengthen each other”.
Meanwhile, Codere Online Marketing Director Alberto Telias said: “Our growth project in Latin America has been consolidated little by little with the support of football sponsorships from Club Atlético River Plate, Club de Fútbol Monterrey Rayados and Real Madrid C.F. Reinforcing our relationship with River, becoming a Main Sponsor, is a big step towards continuing to build the Codere brand in the country.”
It is worth remembering that this month, Codere Online confirmed the start of the Codere 2022 International Cup, which will be played between July and October in Mexico, Argentina, Colombia, Panama and Spain, and the company’s customers will be able to participate in 150 teams. The local edition in Argentina will start on July 30 at River Camp, River Plate’s location, in the city of Ezeiza, in Buenos Aires.
