Demolition works on the former Palestra Italia stadium for the construction of the Allianz Parque, in February 2011. The transformation of the former in arena is the result of an agreement signed between Palmeiras and the company WTorre Properties/Arenas, belonging to WTorre Group. WTorre will manage the site for 30 years, and Palmeiras will profit 100% with the ticket sales at football matches.

According to the agreement between Palmeiras and WTorre, all expenses for the use of the arena, such as water, electricity, security, cleaning, insurance, lawn maintenance, shall be borne by the entrepreneur. WTorre will hire a specialized company to manage the complex, passing onto Palmeiras an increasing percentage of the revenue with sponsorships, box seats and shows amongst others, starting on the first day of the complex's operation.

At the end of this 30-year period, Palmeiras will integrate the whole enterprise, putting an end to the deal with company. Partnerships [ ]. External view of Allianz Parque behind the tennis courts of Sociedade Esportiva Palmeiras On September 30, 2009, WTorre completed the partnership with for marketing properties of the arena, such as the, cabins, special chairs, restaurants, cafes and shops, among others.

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The sports media company will market the spaces used in sporting, musical, social and corporate events. On October 6, 2011, Palmeiras and WTorre announced the agreement with (AEG), to manage events in the arena.

In turn, AEG made a partnership with Blue Box Company, that will provide consulting services to the US company of the best services in the Brazilian territory. On April 24, 2013, WTorre announced the naming rights agreement with the company, which holds the rights to name five other sporting arenas: the in, the in; in;, in; and Allianz Stadion, under construction, in. The agreement with the insurance company is valid for 20 years, with an option to renew for another 10 at the end of the period.

The deal is estimated at R$300 million. On April 29, 2013, Allianz announced three name options for the arena: Allianz Parque, Allianz Center and Allianz 360º.

On June 6, 2013, with 89% of over 620 thousand votes registered on the official website of the enterprise, the name 'Allianz Parque' was announced. The other two options had 7% and 4% of the votes, respectively. On March 13, 2014, WTorre and AEG announced the agreement with the Gourmet Sports Hospitality company, belonging to Kofler & Kompanie (K&K) Group, from Germany. The agreement provides chef services on game days and buffets for corporate events, conferences, concerts and other events that occur on site. In the stadium there is a central kitchen of 1,500 m 2 and ten support kitchens, three lounges and 46 cafeterias and kiosks to serve the public on game days and corporate events. Up to 500 people can work in these places in a day with maximum capacity. The company was also responsible for serving the public during the, in,, in,, in Brazil, in,, and some stages of.