Coolbet debuts as main sponsor of Colo Colo in record deal

Estonian sports betting company, Coolbet, has begun its sponsorship of Chilean football club Colo Colo.

The Macul-based operator officially closed the sponsorship of the team in June 2022, in exchange for $3m for two seasons, with the possibility of renewing for another two years. 

This makes it the largest partnership in the history of Chilean football, potentially leaving Colo Colo $12m.

Coolbet said in a statement: “We are very excited to announce that Colo-Colo, ‘the eternal champion’ of Chilean football, has partnered with us as their main sponsor for 2023, 2024, and 2025.

“Colo-Colo was founded 97 years ago, has won 33 National Championships, and plays in the Chilean First Division, from which they have never been relegated.

“Welcome, Colo-Colo and the family of passionate supporters who, just like us, have the Cacique in our hearts!”

Furthermore, the company’s branding will now appear on the chest of the first team’s shirt, in black in the case of the home kit (white) and in white for the away kit (black).

A total of 11 out of 16 in the Chilean Primera División – in addition to the National Team- have sponsorship agreements with sports betting operators.

This time last year, the club similarly entered into a partnership with Betsson Group, incorporating the international betting and gaming operator into its suite of sponsorship partners. 

Under the terms of the one-year arrangement, which covered the 2022 season, Betsson appeared on the top-flight club’s shirt sleeves for both home and away games.