- Bloomberg, Thursday, December 11, 2014 9:32 AM
Five of the Brazilian league’s 20 clubs ended the season this month without major sponsors. Some of the sponsors canceled after throwing their spend on the World Cup. Some
are reducing advertising budgets because of weak economic growth in Brazil, per Luiz Gonzaga Belluzzo, former president of the Palmeiras soccer club. Toshiba Corp. and Banco BMG SA have cut spend and
Kia is leaving because it says returns fell short of expectations.
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