How Arena MRV used stadium naming rights to raise financing

The original contract spread receipts over ten years

Arena Vencer contracted with MRV Engenharia for the stadium name. The SAF’s consolidated accounts describe BRL 71.757 million in the original arrangement, with 120 equal monthly instalments beginning in January 2023 and adjusted by IPCA. The original amount and inflation adjustment both matter when comparing it with a later balance. Source 1

Future receipts supported an immediate borrowing

The 2023 loan note gives a bank credit instrument of BRL 42.515 million tied to naming rights. It says the stadium company would pay the bank directly as it received contractual instalments. The advance addressed the timing difference between receiving the rights payments and needing financing during stadium development. Source 2

The stadium’s capacity and opening limit were separate

Atlético Mineiro’s announcement put capacity at 46,000 and the planned limit at the first official match at 30,000. It dated the start of construction to April 2020 and gave a total construction cost of BRL 746 million. The naming rights and loan figures represent specific financing arrangements within the wider project. Source 3 Source 2

The year-end receivable is a balance sheet measure

The 2025 report puts consolidated naming-rights receivables at BRL 63.191 million at year-end, compared with BRL 79.702 million a year earlier. The balances measure what the company recorded as receivable at each date. Their difference alone cannot be read as cash collected, since adjustments can also change the balance. Source 1

Sources

• Atlético Mineiro SAF integrated report and 2025 financial statements, note 11
• Atlético Mineiro SAF 2023 financial statements, loans note
• Atlético Mineiro first official Arena MRV match announcement