The club was facing a legal dispute against the company over transfers of funds related to the stadium.; of the total, R$50.1 million will be paid in cash
Palmeiras announcedthis Wednesday (9.Oct.2024), which signed an agreement with Real Arenas, a group company WTorre responsible for managing Allianz Parque. Thus, the understanding puts an end to legal disputes related to the administration of the stadium. According to the statement released by the club, both parties made concessions.
This agreement ends old legal conflicts. WTorre agreed to pay R$50.1 million to Palmeiras and will also transfer stadium properties. The total value of the agreement is R$117 million, encompassing commercial and operational adjustments and the club’s debts with the construction company.
Among the results of the agreement is the expansion of the Gol Norte sector, which will gain 1,000 new places. In addition, there will be sectorization of seats, benefiting fans of the program Avantifrom Passaporte, customers of the Centenário Lounge and holders of captive seats.
“This is a special moment for all of us Palmeiras residents. After 10 years of discussions, our management reached a fair and beneficial agreement for everyone. This is a fundamental step for the future of this partnership, which still has another 20 years to go. We want to build an increasingly winning Palmeiras and, to do so, walk side by side with WTorre,” said Leila Pereira, president of Palmeiras.
“As we complete a decade of Allianz Parque, we could not have a more important achievement than the agreement with Palmeiras. The most successful club in the country and the main multipurpose arena on the continent can and should achieve new goals together, with harmony and aligned interests”, declared Sílvia Torre, co-founder and president of the Board of WTorre.
#Palmeiras #agreement #WTorre #receive #million