Israeli online trading provider Plus500 Ltd. (AIM: PLUS) has signed a sponsorship deal with Spanish soccer champions Atletico Madrid. The four month deal, for the remainder of the 2014/15 season, could be extended for future seasons.
As part of the agreement, the Plus500 logo will feature as official sponsor on the back of the home and away Atlético Madrid shirts for La Liga and Kings Cup matches. The front of the shirts will continue to be sponsored by the Azerbaijan Tourism Board in a deal worth €15 million a season. No financial details were provided about the size of the Plus500 deal but it is believed to be close to €10 million. Plus500's logo will already appear on the back of Atletico Madrid's shirts in tonight's Kings Cup derby match with city rivals Real Madrid.
Plus500 provides an online trading platform for contracts for difference (CFDs), which enables customers to trade on movements in the price of shares, forex, commodities and indices without needing to buy or sell the instrument. In total, customers can trade on more than 2,100 different underlying global financial instruments in over 50 countries. The trading platform, which has been developed by Plus500 and is based on proprietary technology, is accessible from multiple operating systems and has been translated into over 31 languages.
This is the first time that an Israeli registered company will have sponsored the shirts of a top European football club. Israeli owned 888 has done so previously but that company is registered in Gibraltar.
Plus500 CEO Gal Haber said, “We are honored to be partnering with such an esteemed football club as Atletico Madrid, which has established a strong pedigree over its 111 year history. Atlético Madrid is a natural fit for us as Europe is our largest customer base, and we share with them a passion for striving for success whilst having an ethos of transparency and respect for our customers, fans, partners and employees. In addition, this partnership with one of the most successful clubs in Europe that plays in one of the most popular leagues in the world will help us in furthering our strategy of increasing our brand recognition and expanding our customer base globally.”
Plus500, which held its IPO in London in July 2013, today has a market cap of £690 million.
Published by Globes [online], Israel business news - www.globes-online.com - on January 7, 2015
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