Sao Paulo, Nov 21 (IANS): The naming rights of Sao Paulo's World Cup football stadium are set to be sold to a Middle Eastern investment group.
Officials from Brazilian club Corinthians, who own the stadium, will travel next week to the United Arab Emirates to meet with representatives of the Abu Dhabi Investment Authority, reports Xinhua.
It is understood that the club is seeking $175 million for a 20-year agreement.
"There is no guarantee of success in the negotiations but there is a chance and it's a good chance," Corinthians advisor Edgar Ortiz said Wednesday.
Any deal for the stadium, currently named Arena Corinthians or Itaquerao, will be delayed until after next year's World Cup due to a ban by FIFA on venue naming rights.
Arena Corinthians will host six World Cup matches, including the tournament opener June 12.