Olimpia faces sponsorship loss following Paraguayan bank intervention

The Paraguayan football club Olimpia is at risk of losing 76 million reais in sponsorship following a financial crisis in the country. The crisis was triggered by an intervention in Ueno Bank by the local Central Bank.

Ueno Bank previously held sponsorship agreements with two of Paraguay’s largest clubs, Cerro Porteño and Olimpia, as well as the Copa Sudamericana. The club has rescinded its agreement in the wake of the banking sector instability.