Brazilian pharmaceutical company Neo Química has been unveiled as the new naming-rights sponsor of Arena Corinthians, home of São Paulo-based football team Corinthians.

The deal was officially announced yesterday (Monday) to coincide with Corinthians’ 110th anniversary celebrations. The agreement will be worth R$300m (£41m/€46m/$55m) over 20 years and officially renames the stadium as Neo Química Arena.

Neo Química will provide annual instalments worth R$15m, Corinthians confirmed. Neo Química is owned by Hypera Pharma and previously served as a Corinthians shirt sponsor between 2009 and 2012.

The newly named Neo Química Arena has a capacity of 49,000 and opened ahead of the 2014 FIFA World Cup, where it hosted six fixtures including the opening match between Brazil and Croatia.

Ana Biguilin, general director at Neo Química, said: “Neo Química is present throughout Brazil and, with quality medicines, offers health to all Brazilians. Where there is sport, there is health, and the long-term partnership with Corinthians will bring us even closer to our consumers. We are happy to make this partnership possible at such a remarkable moment for the club and its fans, which is the celebration of the 110th anniversary.”

A launch event for the newly named stadium was held yesterday with a lights, fireworks and music show. No fans were allowed in the stadium due to COVID-19 restrictions but the event was streamed live on YouTube.

Image: Arena Corinthians