Millennium bcp will be the main sponsor of this year's Portugal Open tennis tournament.
The contract will be signed in next few days for a total deal worth €700,000 making the bank the main sponsor of the event.
News of the 26th Portugal Open will be announced at a press conference next week.
Millennium bcp replaces Carregosa Bank which sponsored the last event as main sponsor. Carregosa in turn had replaced Banco Espírito Santo which ahd been the main sponsor of the event for 23 years, ending in 2012.
Affected by financial difficulties due to a lack of sponsors, the entrepreneur João Lagos took the decision last October to cancel the women’s section in order to focus resources on the men's competition.
In November João Lagos said that he had no money to continue the event and that João Lagos Sports had filed for insolvency.
The new deal with Millennium bcp means the event will continue under new management with sports company Polaris, a Dutch businessman, tennis player Benno van Veggel and German TV company U.COM comprising the new team which is moving the event from Oeiras to Estoril.
