VaideBet Ends Sponsorship with Corinthians Over Alleged Misconduct

Online betting company VaideBet announced it has terminated its sponsorship contract with Corinthians on Friday, June 7.

Since April, the company monitored and requested clarifications about raised suspicions. They held meetings, sent formal communications, and issued an extrajudicial notification.

VaideBet decided to end the contract due to unsatisfactory explanations from the club.

Recently, a corruption scandal implicated VaideBet and Corinthians.

According to journalist Juca Kfouri’s blog on UOL, the club allegedly received part of the sponsorship money through an intermediary, Edna Oliveira Santos.

She resides in Peruíbe, São Paulo, and was unaware of the transaction.

VaideBet emphasized that the partnership couldn’t continue under any suspicion of unethical or illegal conduct.

They stated that mere doubts were enough to invoke contract clauses protecting their rights to terminate the agreement.

The sponsorship deal, signed at the beginning of 2024, was worth R$370 ($70) million and was set to last until 2026.

VaideBet Ends Sponsorship with Corinthians Over Alleged Misconduct

Corinthians had already received R$60 million, making VaideBet the club’s main sponsor.

The  club confirmed the termination on social media. They attributed it to recent instability caused by ongoing accusations under investigation.

The club expressed regret that VaideBet ended the largest sports marketing deal in Brazil.

This deal helped VaideBet rise from obscurity to the second-largest in its sector in just five months.

Corinthians noted the decision came without a conclusion to the investigations related to the intermediary.

The club stressed its commitment to resolving the issue. They are making every effort to clarify the facts through their means, third parties, or in cooperation with authorities.