Codere Partners with River Plate in Four-Year Sponsorship Deal

A wagering firm concentrating on Spain, Italy, and Latin America, Codere, has forged a partnership with River Plate, the renowned Argentine soccer club.

Codere has inked a four-year sponsorship agreement with River Plate. The deal commences in August and will extend until the 2024/25 season. Codere’s emblem will be prominently displayed on the team’s uniforms.

River Plate is the most recent Latin American soccer team to collaborate with Codere. Earlier this month, Codere signed a comparable accord with Monterrey Rayados, a Mexican squad.

Codere’s sponsorship director, Carlos Sabanza, stated: “This arrangement enables us to connect with Argentine and Latin American audiences in the most effective and direct manner. We can provide a remarkable brand experience to our existing and prospective clients.

“By collaborating with one of the most significant football teams in Argentina, we can solidify our position as a leading online sports betting and entertainment provider within this critical market.”

Codere recently separated its online operations and listed it on the Nasdaq stock exchange in the United States through a SPAC transaction. Codere anticipates that the River Plate sponsorship agreement will facilitate their establishment in Argentina.

Jorge Brito, the River Plate’s vice president, expressed his excitement about the sponsorship deal with Codere. He highlighted Codere’s extensive experience, global reach, and rapid expansion in the region. Brito believes this partnership will fuel mutual growth, underpinned by shared values of ethical conduct and strong principles.

Codere faced financial difficulties during the COVID-19 outbreak. They were compelled to reorganize their operations, with creditors assuming control of daily activities.

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