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Flamengo planned to formally notify Pixbet on Monday, August 11, 2025, that a rival betting company has made a proposal to take over the master (front-of-shirt) slot. A meeting between the parties was expected the same day to officialize the communication.

The reported bid is valued at roughly R$345 million (about $63 million), which would set a new benchmark for Brazilian football shirt sponsorships. The name of the challenger has not been confirmed in the primary report.

Where Pixbet stands today

Pixbet’s current master deal with Flamengo, described as the largest of its kind in Brazil — pays R$105m in year one, R$115m in year two, and R$125m in year three, with additional royalties linked to the club’s FlaBet brand. At prevailing exchange rates, that’s roughly $19m, $21m, and $23m per season.

The contract includes a right of first refusal (Pixbet can match a competing offer) and an early-termination penalty estimated at R$35–40m (US$6.4–7.3m) if Flamengo walks away before the end of the term.

What’s next: options and implications

Pixbet must decide whether to match the rival’s proposal or let the partnership lapse at the end of the term — each path carrying commercial and legal ramifications for both sides. The club’s notification is a required step before any switch can occur.

If the challenger’s offer is confirmed at the reported level and Pixbet declines to match, Flamengo could secure a new record-breaking deal, but would first need to address the applicable termination fee under the existing contract.

Source: https://www.footboom1.com/en/news/football/2697634-flamengo-to-notify-pixbet-of-record-breaking-rival-sponsorship-bid