The Argentine Football Association has terminated a partnership with the Santa Mónica agency in order to sign a new deal with the Torneos agency, which will assist the governing body in identifying new sponsors for the country’s national team.
The length of the new agreement was not disclosed, but the contract with Santa Mónica was due to expire in 2020.
The AFA confirmed the news on its website and said that the new deal would “substantially improve the revenues” of the organisation.
According to the Cronista news website, the new agreement with Torneos will be worth more than $6m (€5.2m) per year to the AFA – up from $4.5m per year under the deal with Santa Mónica.
The report added that Torneos acquired a 44-per-cent stake in Santa Mónica in 2015.