CONMEBOL reassures clubs over Ueno banking crisis
CONMEBOL says its US$14 million deposit at Paraguay’s troubled Ueno Bank will not disrupt this month’s continental finals or prize payments, as the lender’s collapse exposes its extensive ties to football.
CONMEBOL has said the crisis at Paraguay’s Ueno Bank will not affect the organisation of the Copa Libertadores and Copa Sudamericana finals, despite the South American governing body holding a US$14 million fixed-term deposit at the lender.The organisation said the deposit does not affect its cash flow and represents approximately 2.5% of revenue, which has previously reached US$600 million. Its assurances come ahead of two finals carrying a combined US$44 million in prize money.The Sudamericana final between Atlético-MG and Boca Juniors takes place in Barranquilla, Colombia, on November 21 while Palmeiras face Estudiantes in the Libertadores final in Montevideo a week later.The Libertadores winners will receive US$25 million and the runners-up US$7 million. The Sudamericana champions will collect US$10 million, with US$2 million going to the losing finalists. CONMEBOL distributes approximately US$300 million in prize money across the season.Paraguay’s central bank intervened at Ueno after identifying solvency problems, freezing customer accounts and triggering protests. The crisis has put pressure on President Santiago Peña and prompted the departure of central bank president Carlos Carvallo.Ueno’s exposure across football extends beyond CONMEBOL’s deposit. The bank has backed Cerro Porteño and Olimpia, sponsored Paraguay’s national team and held naming rights to the Paraguayan Football Association’s Defensores del Chaco stadium. It has also been a principal sponsor of the Sudamericana since 2024, under an agreement due to expire this year.The Paraguayan Football Association, known as the APF, signed a US$12 million sponsorship agreement with Ueno in 2023, scheduled to run until August 2027. The bank’s branding was removed from Defensores del Chaco on Wednesday, alongside branding at grounds hosting forthcoming domestic first-division matches.In a statement, the APF expressed its “deep concern over the difficult situation facing numerous Paraguayan families” and offered solidarity to those affected.“We are already working on the necessary actions to support those affected and contribute to the search for concrete solutions, with the responsibility and sensitivity this moment demands,” it said.According to Paraguayan newspaper ABC, the association is examining its legal options concerning the sponsorship agreement.National team players are also facing potential losses. Lawyer Rodrigo Codas told local broadcaster NPY that 10 players had joined a potential collective legal complaint after keeping savings at Ueno. He did not identify them or specify when proceedings might begin.Codas said their deposits generally exceeded the central bank’s reimbursement guarantee of 228 million guaraníes per depositor, approximately US$38,000, leaving significant sums exposed.“This is why they are among those most affected by this situation,” he said.The banking intervention therefore presents several distinct challenges for Paraguayan football: access to deposited funds, uncertainty over sponsorship income and potential losses for individual players. CONMEBOL’s position is that its own exposure can be absorbed without interrupting the delivery or financial commitments of its two flagship club finals.