Global financial trading platform Plus500 has announced that its partnership with Spanish football club Atletico Madrid will have been discontinued.
The Global Head of Partnerships at Atletico Madrid, Rosolino Amenta, commented on the development. Amenta stated that the partnership is one of the most successful football collaborations in Europe, adding that the relationship between the parties lasted for seven years. “Thank you Plus500 for these years by our side,” Amenta stated.
Both Parties Extended Their Partnership In 2020
Since the beginning of the partnership, both parties have had a strong business bond. The financial trading service provider and the Spanish club partnered on several occasions to increase awareness about financial education. They also organized several social initiatives that attracted football fans and the financial community.
In December 2020, due to the success of their previous collaborations, Plus500 announced the extension of the partnership for the 2021/2022 season. The company noted that throughout the past seven years, Plus500 has expanded its brand awareness extensively to the sports community and across different regions of the world. Atletico Madrid is a major football force in Spain and Europe. The club has fans all over the world, and Plus500’s relationship with the club has enabled it to expand its market reach.
Some reports revealed that another digital investment platform may be selected by Atletico as its next partner. WhaleFn is a new but rapidly expanding digital asset platform. the company is about to strike a sponsorship deal with the Spanish top club. The club has already revealed the new home and away kits for its 2022/23 season.
More crypto firms collaborate and sponsor football clubs
The crypto space is expanding at an alarming rate in the sports sector. More crypto-focused companies have entered into partnership deals worth billions of dollars with top football clubs in the world since the start of 2021.
Earlier this year, Chelsea FC bagged a sponsorship deal worth £20 million with digital investment firm WhaleFn.
Last September, Crytpo.com entered into a partnership deal with PSG, becoming an official sponsor of the France football giant. Additionally, Atletico Madrid is not the only club that had a sponsorship deal with Plus500. In 2020, the company became the official sponsor of the Italian football club, Atalanta B.C.